Paytail, which provides instant digital finance and easy EMIs to merchants, has partnered with HDB Financial Services, a leading NBFC, to offer loans on lifestyle products such as bicycles, EVs, mobile devices, consumer durables and kitchen appliances.

The partnership will empower customers with instant digital finance for in-store purchases with an option to pay for the product in easy instalments. Additionally, it will benefit retailers in over 85,000 stores across India, helping them create opportunities for cross selling and up-selling their products.

The loan amount ranges from ₹5,000 to ₹3 lakh. It offers a hassle-free EMI tenure of 24 months, depending on the borrowed amount and the product segment.

G Ramesh, Managing Director & CEO, HDB Financial Services said the company aims ease of purchase by improving credit access for customers through digital interface with minimal human intervention.

This association will drive the company enter segments which are relatively new, thus expanding customer reach, he added.

Vikas Garg, co-founder and CEO, Paytail said the collaboration will fulfil customers’ aspirations who often put their purchasing plans on hold because of various financial challenges. Customers can now enjoy instant credit offerings at no cost EMIs with easy repayment options.

Joining hands with a leading lender like HDB provides a reliable credit provision in tier-II and -III cities where the capital demand is high.

HDB has a widespread distribution network of over 1400 branches in over 1,000 cities and towns.

It currently has over 85,000 retailers registered on its platform.

Related Topics
comment COMMENT NOW