India’s leading online payment app, Paytm of One97 Communications, has partnered with Fullerton India to deliver instant loan products to the broader consumer base.
Paytm will provide instant loans to merchants and consumers registered on its platform using the data insights and deep risk analysis capabilities offered by Fullerton India. This partnership will enable Paytm to extend instant credit to the new credit users by quickly assessing their eligibility.
This coalition will allow Paytm to offer its Paytm Postpaid services (buy now and pay later) to millions of users. The instant loans will be end-to-end digitally originated and distributed. The future aim for the alliance is to co-ideate new loan products using Paytm users’ payment behavior and Fullerton’s deep understanding of the credit segment for years.
India’s MSME across small and big cities will be targeted to grant them loans digitally to help them grow their businesses.
