Paytm to Shut Down Paytm Postpaid, No Official Statement By Paytm Yet

Paytm and Postpaid Service

Paytm finds itself in the news headlines, and for all the wrong reasons. This time it is about its own lending program, Paytm postpaid. The service was launched in 2018 and allowed the users to purchase products first and pay later.

However, it appears that the end of the same service is almost here. However, the internet and the users have not taken the information about this closure. To express their emotions better, the Paytm users have taken on to Twitter and now, #PaytmChorHai is trending.

The Outrage: Paytm Users Not Happy

By the looks of the Twitter posts, it is clear that the Paytm users are far from happy. However, you look it, Twitter is trending with raging posts. Furthermore, various users claim that Paytm has stolen their money.

Amongst all of this, there is yet another thing that keeps coming up, the fake promo codes. In the recent past, it was found that Paytm had released some one-rupee promo codes, which later turned out to be fake. Furthermore, Paytm was heavily fined in the same matter.

Paytm’s Response

Apart from the fact that Paytm had a similar backlash when there was the talk of the company’s Paytm Postpaid was going to be shut down, Paytm still hasn’t released an official statement for the same. However, as per some sources, Paytm was being hounded by the RBI.
Furthermore, Paytm’s bank license holders did not have the power to lend money just yet. Hearing public interest litigation brewing the Delhi High Court heard both the parties, RBI and Paytm. However, Paytm had told the court that it was only acting as a facilitator and not doing this on its own book.