Paytm Postpaid services extend to Android Mini App Store, POS devices

India's fintech giant Paytm on Monday announced the expansion of its Postpaid services to the newly-launched Android Mini App Store as well as to POS devices.

Offered in partnership with two leading NBFCs, the Paytm Postpaid service has 7 million users and it is on the way to register a total of 15 million users by the end of the current financial year.

In a blog post, Paytm said the expansion will potentially benefit the businesses as a consumer will have an additional option to opt for buy now and pay later service, further adding that it is in the process of integrating the postpaid service with over 2 lakh Paytm's Android POS devices that are powering shoppers to buy on credit and benefitting the retailers across the country.

Paytm Postpaid service is already available for recharges and bill payments on Paytm, online payments on internet apps and also for buying home essentials from Kirana stores.

"We aim to expand our services to as many businesses that enable consumers to benefit from the convenience of buy now and pay later. Our latest product is another step towards becoming as ubiquitous as credit cards. Postpaid is now an even more attractive payment option for everyday wants and needs. We can also now better support merchants who offer smaller ticket items and bring their customers a more transparent, flexible way to pay," said Bhavesh Gupta, CEO, Paytm Lending.

"We are expanding our partnerships with as many business segments and delivering a transparent payment option without any charges," he further added.

Paytm Postpaid services can be availed for multiple use-cases including daily purchases of groceries and other home essentials from neighborhood Kirana stores to high-value shopping at popular retail destinations such as Reliance Fresh and Haldiram. It also supports various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Uber, Myntra, Lenskart, Gaana, to name a few.