Nowadays, Paytm has become one of the most popular payment services in India and was initially started in August 2010 with the Paytm wallet payments service. After that, in 2019, Paytm launched its lending services also, which consist of two types of services, called Paytm Postpaid Lite and Paytm Postpaid Mini.
Paytm Postpaid, in simple words, is a “Buy Now Pay Later” ( BNPL) service provider by the parent company of Paytm, One97 Communications Limited. With this new innovative payment option, anyone can avail of the quicker, easier, and more comfortable experience of purchasing things today and paying later, with the convenience of all in one easy payment bill facility. Through the Paytm Postpaid service, you can take small ticket instant loans, i. e. the total amount a customer spent to deal with his/her day-to-day household expenses or purchases at stores.
You should know that before using the Paytm Postpaid service, you will have to activate the Paytm Postpaid service. After that, at the time you purchase something, you will be allowed to opt to pay with Paytm Postpaid, in place of using your debit card or net banking facility, and your purchase will be included in your monthly Paytm Postpaid bill, which can be fully paid at the beginning of the following month.
If you are using the Paytm Postpaid service, then you should know about the convenience fee in Paytm Postpaid.
Convenience Fee in Paytm Postpaid
For your information, the convenience fee in Paytm Postpaid is primarily a service charge applicable for Paytm Postpaid Lite and Paytm Postpaid Mini users to deal with their monthly purchase expenses. This fee is imposed for using the Paytm Postpaid credit facility.
However, if a user does not avail of a credit facility in the previous month, then he/she will not be charged any convenience fee for that month.
While Paytm Postpaid is incurred with no interest or processing fees, and a nominal convenience fee is charged to monthly expenses, the late fees are charged only if you fail to pay your dues by the due date. Usually, the Paytm Postpaid bill for the credit facility taken in the current month is generated on the 1st of the next month, which can be simply paid through the Postpaid section on the Paytm app.
However, the convenience fees in Paytm Postpaid can also be avoided by not using the credit facility. Otherwise, if you do not want to use the Postpaid service in the future, you can permanently close your Paytm Postpaid account.
This is for your information that since there is no fixed convenience fee for Paytm Postpaid, therefore, a calculator for Paytm Postpaid convenience has not been provided on their app. and official website.
However, Paytm Postpaid Late Fee Chart for Outstanding Amount is made available to the users. This is all for this post. Hopefully, you will have quickly learned what is the convenience fee in Paytm Postpaid.
The Concluding Thoughts
You should know that the convenience fee in Paytm Postpaid depends on many factors. Therefore, it may vary from 0% to 3% ( + GST). However, you should find out the latest convenience fee on the Paytm app. or contact Paytm customer care.
If you still have any queries related to the Paytm Postpaid service, you can call Paytm on their 24X7 helpline number: 0120-4456-456 to help resolve your questions.