Fullerton India partners with Paytm to expand digital lending to semi-urban areas

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Fullerton India partners with Paytm to expand digital lending to semi-urban areas

Fullerton India and Paytm, India’s leading digital payments and financial services platform, have entered into a partnership to provide lending products to merchant partners and consumers. Through this partnership, the two institutions will leverage data-driven and far-reaching insights to bring credit to new credit users in semi-urban areas.

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

Leveraging Paytm’s deep knowledge and commitment to merchants, the partnership will also offer loans to merchants across India. The two institutions would establish a broad network, specifically reaching out to MSMEs in small towns, cities and semi-urban areas and helping them grow their businesses. They aim to co-create innovative merchant lending products using customer payment behavior and Fullerton’s years of experience understanding this segment.

Promotion of the partnership, Bhavesh Gupta, CEO, 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. We continue to focus solely on supporting our premier lending partners to deliver seamless credit products to our customers and merchants. Consumer credit has grown exponentially through products such as Paytm Postpaid and Personal Loans, which we believe can be further expanded through our partnership with Fullerton India.

Speaking of collaboration, Shantanu Mitra, CEO and Managing Director, Fullerton India, said: “At Fullerton India, we believe that buy now, pay later is the present and also in the future will continue to offer tremendous opportunities to drive the exponential growth of digital lending across all industries. customer segments. We understand the importance of timely and convenient credit facilities for merchants and small businesses at the time of trade transactions and orders. With Paytm, we aim to cater to a wider range of individual consumer, merchant, and business owner customers by providing faster, transparent, and more affordable funding with minimal documentation to meet their financial needs. Customers will also be able to repay loans on this platform. »

Fullerton India began operations in India in 2007 and today is a leading NBFC with pan-India presence. Working with over 12,500 employees, it reaches its market by connecting with over 2.3 million customers whether in cities, towns or villages right on their doorstep. Fullerton India penetrates deep inside the market through more than 628 branches, covering 600 cities and approximately 58,000 villages. It operates in niche sectors and provides financial access to underserved and unserved segments.

Read more: India Post Payments Bank partners with HDFC Bank to offer banking services in rural areas

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