Paytm 'Book Now, Pay Later option for IRCTC tickets is now available to avail.

Paytm users must celebrate! Now when ordering train tickets through the Indian Railway Catering and Tourism Corporation, they will now be able to use the Buy Now, Pay Later (BNPL) option (IRCTC). With the debut of the new Paytm Postpaid on the IRCTC platform, users may now use this ticketing service.

People can order IRCTC tickets instantly with Paytm Postpaid, with the option of paying the money later. One97 Communications Ltd, Paytm's parent firm, announced that Paytm Payments Services Limited has launched Paytm Postpaid for IRCTC clients.

Praveen Sharma, the CEO, of Paytm Payments Services Limited, said, “We strive to offer innovative tech-driven solutions to users to enable seamless digital payments and financial services. Paytm Postpaid (BNPL) will now be available for users who want to book train tickets through IRCTC. Through the partnership with IRCTC, Paytm PG hopes to offer seamless and secure digital payments to users for instant ticket bookings with the option to pay later."

Paytm Postpaid allows consumers to take out a 30-day interest-free credit of up to Rs 60,000. Users receive a single monthly bill to keep track of all their credit-related expenditures and have the option to settle the entire balance at the conclusion of the billing cycle. Users can also choose to pay their bills in installments.

Since its inception in 2018, Paytm's Buy Now, Pay Later service has seen tremendous popularity since it caters to consumers' financial requirements by allowing them to purchase tickets, pay utility bills, and even shop and pay later.

Step 1 – Visit the IRCTC official portal or login into the IRCTC app on your mobile

Step 2 –Select your journey details like destination, date, etc., and proceed to book tickets.

Step 3 – Head to the payment section and click on ‘Pay Later’.

Step 4 – Select Paytm Postpaid and log in using your Paytm credentials.

Step 5 – Enter the OTP and the booking will be done.

BNPL will account for 14% of transaction value by 2026, up from 3% in 2021, according to a market research analysis by Benori Knowledge, a new-age supplier of specialized research and analytic solutions.

While the Indian BNPL market, which is predicted to increase 10 times over the next five years to 35-40 billion dollars by 2026, from the earliest stage of 3.5-4 billion dollars in 2021, might become the world's largest.