#indhinditech Paytm Halts Postpaid Loan News | Paytm to Exit Postpaid Loan | paytm postpaid news today |paytm loan
How does Postpaid Loan work?
Postpaid Loan is a Buy Now, Pay Later facility offered by Paytm’s NBFC partners. With Postpaid, users get credit of up to Rs. 60,000 every month at 0% interest for upto 30 days. They can use this credit to make purchases, bill payments, recharges, bookings, etc at 1.5 Crore + websites & outlets and repay next month.
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Paytm halts postpaid loans, to focus on distribution-only model
Paytm said it was becoming more cautious with its small-ticket size personal loans business, given the deteriorating asset quality.
“Given industry asset quality deterioration for small ticket personal loans, accordingly we will not receive a collection bonus on existing books of personal loans and Postpaid loans and have decided to pause these products till credit cycle plays out,” the company said in its earning release.
(less than ₹50,000) post RBI’s concerns on unsecured lending across the industry. While this was intended to be a smaller part of the business model, the latest statement confirms a complete phase out of the Postpaid loan product.
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