Suryoday bank partners with Paytm for UPI credit line service

Suryoday Small Finance Bank (SSFB) has teamed up with One 97 Communications Limited (Paytm) to launch 'Postpaid,' a credit line on UPI, offering consumers the convenience of "Spend Now, Pay Next Month." This new service allows users to make instant payments across any merchant UPI QR code or online platform using a short-term credit facility, providing up to 30 days of interest-free credit. The initiative is currently being rolled out to a selected base and will expand to more consumers.

The partnership leverages Paytm's technology for secure, real-time payments, enabling users to manage liquidity without disrupting daily expenses. Merchants will benefit from universal acceptance and instant settlement. Avijit Jain, chief operating officer - lending at Paytm, emphasized that this solution aims to simplify life by making everyday expenses easier to manage.

Vishal Singh, chief information officer and head digital banking at SSFB, highlighted that this collaboration expands access to secure and responsible credit. By enabling Paytm Postpaid on UPI, the bank aims to empower consumers with greater flexibility while ensuring the reliability of a regulated banking partner.