Paytm partners with Fullerton India to promote digital lending to MSMEs

Paytm partners with Fullerton India to promote digital lending to MSMEs On Monday, Fullerton India and One97 Communications Limited, which owns the Paytm brand, established a partnership to provide merchant partners and consumers with financing solutions. The agreement will allow the two established institutions to use data-driven insights and a broad reach to deliver credit to previously unbanked individuals. Using Fullerton's comprehensive risk assessment capabilities and scale, the Programme will offer Paytm Postpaid (buy-now-pay-later) to millions of consumers on the Paytm platform. Fullerton India and Paytm are expanding their product offerings to include instant personal loans that are digitally originated and distributed end-to-end, leveraging Paytm's technology and Fullerton's pan-India reach. The alliance will also offer merchant loans across the country, leveraging Paytm's strong expertise and engagement with retailers. The two organizations would create a large network that would exclusively cater to MSMEs in small cities and towns, assisting them in growing their businesses. They want to work together to develop novel merchant loan products based on consumer payment behavior and Fullerton's extensive knowledge of the market. "We've noticed a lot of interest in our lending offerings from both customers and merchants." We feel that providing credit to merchants in small towns and cities represents a huge opportunity. Our only focus remains on assisting our blue-chip lending partners in providing seamless credit solutions to our clients and merchants. Consumer credit has been increasing at an exponential rate with to products like Paytm Postpaid and Personal Loans, and we believe our cooperation with Fullerton India will help us go even further," said Bhavesh Gupta, CEO of Paytm Lending.