Video game industry

Paytm partners with Piramal Finance to offer loans. how to profit

Paytm today announced a partnership with Piramal Capital & Housing Finance to expand the distribution of merchant loans to small towns and villages in India. Piramal Capital & Housing Finance is a subsidiary of Piramal Enterprises Limited and has over 300 branches across India. Traders will be able to benefit from loans of up to 10 lakh with a tenure of 6 to 24 months. Paytm said its partnership with Piramal Finance will soon be extended to personal loans.

“Paytm has acquired a large number of merchants from cities and towns across the country, amassing a broad base that Piramal Finance plans to leverage and facilitate credit to small business owners through data-driven underwriting as well as credit sanctions based on company revenue. Additionally, this partnership will soon be expanded to include personal loans, where Piramal Finance brings its deep understanding of risk and customer segment,” said One 97 Communications, owner of the Paytm brand, in a press release.

Piramal Finance, which has 309 active branches, is expanding and aims to be present in 1,000 cities. Piramal Finance is also working on the transformation of all former DHFL agencies into multi-product agencies. Last year, Piramal Finance acquired DHFL.

Commenting on the Piramal Finance partnership, Bhavesh Gupta, CEO Loans and Head of Payments at Paytm, said, “We continue to see rapid growth across all of our lending products, where we are giving small town MSMEs access to digital credit. . The success and scale of our lending products gives us the confidence to further expand and strengthen our credit offerings. Our partnership with Piramal Finance is another step in this direction, where together we will bring more merchants into the formal credit economy.

How Merchants Can Get Loans On The Paytm For Business App

-Tap the “Business Loan” icon on the home screen of the Paytm for Business app and enter the desired loan amount

-Check details such as loan amount, amount to be disbursed, total to be paid, daily installment, term

-Confirm the details and click the checkbox and press “Start” to process.

-Merchants can give their consent to give the KYC details of the CKYC to complete the

quick loan application process

-On the next screen, confirm personal details – PAN, date of birth, email address.

-After that, credit score will be checked for loan eligibility and KYC details will be verified.

-Once the application is successfully verified, the loan amount will be disbursed

instantly to the merchant’s selected bank account.

Paytm is experiencing strong growth across all of its lending verticals (Paytm Postpaid, Personal Lending and Merchant Lending) which are offered on its platform in partnership with lenders. In the first quarter of FY23, Paytm disbursed 8.5 million loans, marking year-over-year growth of 492%. In terms of value, the company disbursed loans worth 5,554 crores.

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