Connect Gujarat
Business

Paytm and Fullerton India partnering to expand digital lending to MSMEs 

With Fullerton's strong risk assessment capabilities and scalability, the initiative will offer Paytm Postpaid

Paytm and Fullerton India partnering to expand digital lending to MSMEs 
X

On Monday, One97 Communications, the parent company of Paytm, and Fullerton India, an NBFC, announced a partnership to lend its goods to merchant partners and consumers. According to the corporations, the platforms will deliver credit to new-to-credit consumers by harnessing data-driven insights and their broad reach.

With Fullerton's strong risk assessment capabilities and scalability, the initiative will offer Paytm Postpaid, a buy-now-pay-later option, to millions of consumers on the site. The firms will add immediate end-to-end digitally originated personal loans to their product offerings, which will be disbursed leveraging Paytm's technology and Fullerton's presence.

The collaboration will also provide merchant loans throughout the United States. Paytm and Fullerton India will build a large network to serve MSMEs in small cities and villages, allowing them to expand their businesses. Using consumer payment behavior and Fullerton's experience of the industry, the businesses want to develop unique merchant lending solutions.

Paytm Lending CEO Bhavesh Gupta said, "We believe that there is a massive opportunity to provide access to credit to merchants in small cities and towns. We continue to solely focus on helping our blue-chip lending partners, to bring seamless credit products to our customers and merchants. Consumer credit has been growing exponentially through products like Paytm Postpaid and Personal Loans, which we believe can be further expanded through our partnership with Fullerton India."

Buy-now-pay-later, according to Shantanu Mitra, CEO and MD of Fullerton India, will continue to offer significant prospects in the future. "We understand the importance of timely & convenient credit facilities for merchants and small businesses at the time of business transactions and orders," he said.


Next Story
Share it