Meaning of the word postpaid in English

What does postpaid mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

postpaid

US /ˈpoʊstˌpeɪd/
UK /ˈpəʊstˌpeɪd/

Adjective

paid for after it has been used or received

Example:
I prefer a postpaid mobile plan because I don't have to worry about topping up.
The company offers both prepaid and postpaid services.