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Fullerton India and One97 Communications, which owns Paytm, have partnered to provide lending products to merchant partners and consumers. “With the partnership, the two will leverage data-driven insights and wide reach to bring credit to new-to-credit users,” said a statement on Monday. The programme will offer Paytm Postpaid or buy-now-pay-later to consumers on the Paytm platform while utilising Fullerton’s risk assessment capabilities and scale, it further said.
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Fullerton India and Paytm will further expand their product offerings to include instant personal loans. “We believe that there is a massive opportunity to provide access to credit to merchants in small cities and towns. Consumer credit has been growing exponentially through products like Paytm Postpaid and Personal Loans, which we believe can be further expanded through our partnership with Fullerton India,” said Bhavesh Gupta, CEO, Paytm Lending. “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 fulfill their financial needs. Customers will also be able to repay the loans on this platform,” said Shantanu Mitra, CEO and MD, Fullerton India.
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