Fullerton India and One97 Communications Limited, the parent company of, have partnered to provide loan products to micro, small and medium-sized enterprises (MSMEs).
According to a press release, the initiative aims to specifically address the credit needs of MSMEs in small towns and villages to help them expand their businesses. It will offer Paytm Postpaid (buy now-pay later) to MSME consumers on the Paytm platform while utilizing Fullerton’s in-depth risk assessment capabilities and scale.
Commenting on the development, Bhavesh Gupta, CEO of Paytm Lending said, “We have seen great consumer and merchant adoption of lending products on our platform. We believe there is a huge opportunity to provide access to credit to traders in small towns and villages.”
Shantanu Mitra, CEO and Managing Director of Fullerton India, said, “At Fullerton India, we believe that buy now, pay later is the present and also in the future we will continue to offer tremendous opportunities. to drive exponential growth in digital lending across all customer segments. We understand the importance of timely and convenient credit facilities for merchants and small businesses at the time of business transactions and orders.”
Shantanu believes this partnership will appeal to a wider range of individual consumer, merchant and business owner customers by providing faster, transparent and more affordable financing with minimal documentation to meet their financial needs.
The instant personal loans will be disbursed through Paytm’s platform, and customers can repay the loans through the same platform.