Paytm parent One 97 Communications and NBFC Fullerton India announced a partnership on Monday to lend products to merchant partners and consumers. The platforms will bring credit to new-to-credit users by leveraging data-driven insights and wide reach, the companies said in a statement.
The programme will offer million so consumers Paytm Postpaid, a buy-now pay-later scheme, while also using Fullerton's deep risk assessment capabilities and scale. The companies will expand their product offerings to include instant end-to- end digitally originated personal loans, which are disbursed using Paytm s technology and Fullerton s presence.
The partnership will also offer merchant loans across the country. Paytm and Fullerton India will establish a wide network to cater to MSMEs in small cities and towns in order to help them grow their business. The goal of the companies is to create innovative merchant loan products using customer payment behaviour and Fullerton's understanding of the segment.
Paytm Lending CEO Bhavesh Gupta said there was a huge opportunity to give merchants access to credit in small cities and towns. We have a 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 expanded further through our partnership with Fullerton India. Shantanu Mitra, MD of Fullerton India believes that buy-now pay-later will be a great opportunity in the future. He said that merchants and small businesses should have quick convenient credit facilities at the time of business transactions and orders.