Paytm, Suryoday Small Finance Bank Partner To Launch Credit Line On UPI
The service is initially being rolled out to a select group of users identified based on their spending behaviour.
One 97 Communications, the parent company of Paytm, has partnered with Suryoday Small Finance Bank to launch “Paytm Postpaid” as a credit line on UPI. It offers consumers the convenience of "Spend Now, Pay Next Month".
This new service allows users to make instant payments using a short-term credit facility across any merchant UPI QR codes or online platforms, with an interest-free credit period of up to 30 days.
“The facility offers up to 30 days of short-term credit, giving individuals the flexibility to spend instantly and repay the following month. It makes everyday payments smarter, faster, and more reliable,” Paytm said in an official release.
The feature is powered by the National Payments Corp. It enables consumers to shop seamlessly across all merchant touchpoints, including UPI QR code payments, online shopping, recharges, bill payments and bookings through the Paytm app.
The service is initially being rolled out to a select group of users identified based on their spending behaviour. In the coming days, its availability will be extended to more users.
The official press release says that merchants will benefit from universal acceptance of the feature and guaranteed instant settlement via the UPI payment system.
Speaking about the facility, Avijit Jain, Chief Operating Officer, Lending, Paytm, said, “In partnership with Suryoday Small Finance Bank and powered by NPCI, this launch reflects our commitment to offering secure, compliant, and innovative payment solutions that truly put consumers first.”
Steps To Use Paytm Postpaid
To get started with Paytm Postpaid on UPI, follow these steps:
Launch the Paytm application and select the Paytm Postpaid option on the home screen.
Set up your UPI Credit Line account by entering your basic information, completing your KYC verification and authorising the mandate.
Link your newly created credit line to your UPI account to enable usage.
Select Suryoday Small Finance Bank as your banking partner and verify your identity using Aadhaar authentication.
Create a UPI PIN to activate the credit facility and begin making payments using this short-term credit via UPI.
