Paytm offers Rs 250-1,000 mini loans

Mumbai: IPO-bound Paytm has said that it will offer micro credit ranging from Rs 250 to Rs 1,000 to app users as part of a ‘buy now, pay later’ loan product and over a fourth of its customers are eligible according to the company’s analytics.

Paytm said it will expand the market for institutional credit as it would be available to those who have otherwise not availed of such finance. Paytm CEO (lending) Bhavesh Gupta told TOI that the company was now able to expand credit as it has a view of their customer across platforms in online and offline payments and payments as a merchant.