Fullerton India has joined hands with Paytm's parent company One97 Communications Limited to offer loans to Micro, Small & Medium Enterprises (MSMEs), merchant partners and consumers across small cities and towns. Both will also expand their product offerings to include instant personal loans digitally.
“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," said Bhavesh Gupta, CEO, Paytm Lending.
"We continue to solely focus on helping our blue-chip lending partners, to bring seamless credit products to our customers and merchants.”
The programme will offer Paytm Postpaid (buy-now-pay-later) to millions of consumers while utilizing Fullerton’s deep risk assessment capabilities and scale, Fullerton India said in a release.
Shantanu Mitra, CEO & MD of Fullerton India, said, “With Paytm, we aim to cater to a wider customer set of individual consumers, merchants and business owners by offering faster, seamless, more affordable finance with minimum documentation to fulfil their financial needs."