Paytm parent One97 Communications and NBFC Fullerton India announced a partnership on Monday to lend its products to merchant partners and consumers. The platforms will bring credit to new-to-credit users by leveraging data-driven insights and their wide reach, the companies said in a statement.
The programme will offer Paytm Postpaid, a buy-now-pay-later scheme, to million so consumers on the platform while also utilising Fullerton’s deep risk assessment capabilities and scale. The companies will expand their product offerings to include instant end-to-end digitally originated personal loans, disbursed using Paytm’s technology and Fullerton’s presence.
The partnership will also offer merchant loans across the country. Paytm and Fullerton India will establish a wide network to cater to MSMEs across small cities and towns in order to help them grow their business. The companies aim to create innovative merchant loan products using customer payment behaviour and Fullerton’s understanding of the segment.
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.”
Shantanu Mitra, CEO & MD of Fullerton India believes that buy-now-pay-later in the future will continue to offer tremendous opportunities. “We understand the importance of timely & convenient credit facilities for merchants and small businesses at the time of business transactions and orders,” he said.
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