After enough drama on Twitter till yesterday, PayTM concludes saying its postpaid services aren’t stopped and operational.
In it’s yesterday’s blog post, the article titled “Paytm Postpaid is Active & In Use” by the company clarified the doubts regarding the suspension of its postpaid services.
It said, “We thank our users for their faith in our services. We would like to inform that your Paytm Postpaid service is active and operational.
Paytm Postpaid is issued by Clix Capital which is India’s leading digital lending NBFC. They have been managing huge requests for pending KYCs because of which you may not have been able to access your Paytm Postpaid account. Once KYC is completed, you will be able to use it as before.
Many of our users who have completed their KYC are already enjoying the benefits of Paytm Postpaid. Your Paytm Postpaid will soon come up with an increased spending limit basis for your payment behavior.”
After few users posting screenshots of their blocked Postpaid account on Twitter, “Paytm Care“, the official account of the company’s grievance handler has responded to one of them saying Paytm “Postpaid service is entirely discontinued.” And that’s when the matter has gained concern. Tagging Paytm Care, everyone started asking questions of their data security and postpaid account’s status.
To which, the company took its Medium platform to clarify all at once.
The company has already been under litigations from a PIL asking how come a Payments Bank is allowed to issue a credit to users. As it was not allowed to do so under its general Payments Bank license.
Yet, the company is doing so by putting Clix Capital in front as the actual lender and PayTM just being a “Processor” or a “Facilitator“. Under this scheme, users can avail a credit balance of up to Rs.60,000 with no internet charged and payable within 37days.