Recently, Paytm has introduced its newest Postpaid service that works like a credit card. The Paytm users will get a predefined credit limit which they can spend on recharge, bill payments, travel bookings, movie ticket booking, online shopping, restaurant & grocery store payments and more. This credit limit depends upon various factors like your wallet balance, monthly spends, usage and more. The company may increase a user’s credit limit which depends on the usage of Paytm postpaid. At present, Paytm is offering a credit limit between Rs.500 to Rs.6000.
The users can check their balance by tapping on the ‘Passbook’ option on Paytm’s app. Like a credit card, Paytm also has a due date on 7th of every month. Paytm will send you a consolidated bill of your total expenditure 15 days before the due date. If a user fails to make a payment, then Paytm will incur late payment charges along with blocking the account. Once the payment is cleared, the account will be activated again. The late payment charges can be made using a debit card, net banking or UPI.