Paytm and non-banking financial company Fullerton India have announced a partnership with a motive to expand digital lending to MSMEs and consumers from smaller cities and towns.
“Fullerton India and One97 Communications Limited, which owns the brand Paytm, India’s leading digital payments and financial services platform, have announced a partnership to provide lending products to merchant partners and consumers. With the partnership, the two established institutions will leverage data-driven insights and wide reach to bring credit to new-to-credit users,” said Fullerton India in a statement.
“We have seen great adoption of the lending products among consumers and merchants on our 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,” said Bhavesh Gupta, CEO, Paytm Lending.