Paytm Partnership With Fullerton Expands Digital Lending Into Semi-Urban Areas
The partnership will offer lending products like Paytm postpaid, merchant loans, personal loans to millions of consumers on the platform while also using Fullerton’s deep risk assessment capabilities and scale.
Paytm and Fullerton, a non-banking financial company of India, have announced a partnership on Monday that will deal in digital magnifying lending to MSMEs and consumers from smaller cities and towns to help them grow their business.
Fullerton India stated that this partnership would bring credit to new-to-credit users by leveraging data-driven insights and their wide reach.
With this partnership, the Fintech users will be provided with Paytm Postpaid (buy-now-pay-later) scheme on the Paytm platform while also utilizing Fullerton’s deep risk assessment capabilities and scale.
Further, the two companies have promised to expand their product offering to include instant end-to-end digitally originated personal loans, disbursing Paytm’s technology, and Fullerton’s presence.
Paytm Lending CEO Bhavesh Gupta said that they believe there’s a great adoption of the lending products among consumers and merchants on their platform; therefore, there’s a huge opportunity to provide access to credit to merchants in small cities and towns. They further continued and said that their sole focus is on helping their blue-chip lending partners bring seamless credit products to our customers and merchants. Consumer credit has grown enormously through products like Paytm Postpaid and Personal Loans, which will further expand through their partnership with Fullerton India.
Fullerton India is one of the leading NBFCs founded in 2007, covering more than 628 branches, 600 towns, and approximately 58,000 villages.
Sumitomo Mitsui Financial Group (SMFG) holds a 74.9% stake in Fullerton India Credit Company Limited. Fullerton Financial Holdings (FFH) holds a 25.1% stake in Fullerton India Credit Company Limited and is an independently operated strategic and operating investor in financial and related services in emerging markets.