Fullerton India to expand digital lending to MSMEs and consumers in partnership with Paytm

The companies altogether will reach and establish a wide network, specifically catering to MSMEs across small cities and towns to help them grow their businesses.

January 24, 2022 9:34 IST | India Infoline News Service
Paytm Money
One 97 Communications Ltd., which owns the brand Paytm and Fullerton India announced their partnership to provide lending products to merchant partners and consumers. With this partnership, the two established institutions will leverage data-driven insights and wide reach to bring credit to new-to-credit users.

The program will offer Paytm Postpaid (buy-now-pay-later) to millions of consumers on the Paytm platform while utilizing Fullerton’s deep risk assessment capabilities and scale. Fullerton India and Paytm will further expand their product offerings to include instant personal loans, which are end-to-end digitally originated and disbursed using Paytm’s technology and Fullerton’s pan India presence.

“We have seen great adoption of the lending products among consumers and merchants on this platform. 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,” commented Bhavesh Gupta, CEO, Paytm Lending.

This partnership will also offer merchant loans across the country. The companies altogether will reach and establish a wide network, specifically catering to MSMEs across small cities and towns to help them grow their businesses. The companies aim to create innovative merchant loan products using customer payment behavior and Fullerton’s year of experience of the segment’s understanding.

Shantanu Mitra, CEO & MD of Fullerton India, said, “We at Fullerton India believe that buy-now-pay-later is the present and, in the future, too, will continue to offer tremendous opportunities to drive exponential growth in digital lending across customer segments. We understand the importance of timely & convenient credit facilities for merchants and small businesses at the time of business transactions and orders. With Paytm, we aim to cater to a wider customer set of individual consumers, merchants, and business owners by offering faster, seamless, more affordable finance with minimum documentation to fulfill their financial needs. Customers will also be able to repay the loans on this platform.”

Fullerton India Credit Company Ltd. (“Fullerton India”) started its India operations in 2007, and is today a leading NBFC with a pan India presence. Working with over 12,500 employees, it reaches its market by connecting with over 2.3 million customers, be it in cities, towns or villages, right at their doorstep.

Paytm is India’s leading digital payments and financial services company, which offers products and services to consumers and merchants. Paytm offers consumers payment services like utility payments and money transfers by enabling them to pay via linking their bank account or opening bank account or by using Paytm Payment Instruments (PPI) like Wallet and UPI.

Paytm is currently trading at Rs933.85 down by Rs26.05 or 2.71% from its previous closing of Rs959.90 on the BSE.

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