Paytm join hands with Clix Finance to offer instant, short term loans to SMEs

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Paytm has tied up with digital non-banking financial company (NBFC) Clix Finance in order to start giving instant digital loans to customer and merchants through its platform.

The collaboration will target the self-employed and small and micro enterprises, who often find it hard to get a loan from regular banks.

The company stated that using proprietary machine learning models developed by Paytm and Clix, Paytm customers and merchants will get instant digital loans on the Paytm platform.

The product offering will include ‘Deferred Payment or Post-paid’ and ‘Merchant Lines’ among other products for Paytm customers and merchants, the company added.

“We have seen an overwhelming response to Paytm Postpaid and merchant lending products. With this partnership, we aim to bring our credit tested algorithmic lending products to a larger customer and merchant base,” Nitin Misra, senior vice president, Paytm, said.

Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India.

While, Clix Capital Services Private Limited was founded in 1994 and is based in Gurugram, India. The company provides financing services worldwide. It was formerly known as GE Money Financial Services Pvt. Ltd.

Bhavesh Gupta, CEO, Clix, said, “At Clix, our goal is to empower our customers by offering credit facilities that are seamlessly integrated with their purchase journeys. Built on customer-centricity and strong technological and analytical capabilities of both partners, we believe that our partnership with Paytm will be a significant step towards taking customer experience to a completely new level.”

Paytm’s other NBFC partners includes Tata Capital and Indifi. But, an inquiry was filed against Paytm in May, alleging the company’s payments bank was offering credit to its users, which was against regulations.

Some of the prominent players in the Indian fintech market include FaircentLenDenClubIndiaMoneyMartMonexoLoanBaba, CapZest, and i2iFunding.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Prince William and Kate conclude Pakistan visit

Islamabad, Oct 19 (IANS) The United Kingdom's Prince William and Kate concluded their first visit to Pakistan.The Duke and...

69 Palestinians hurt in clashes with Israeli soldiers in Gaza

Gaza, Oct 19 (IANS) At least 69 Palestinians were injured during clashes with Israeli soldiers in Gaza Strip along the borders with Israel, medics...

Jio adds 84.45 lakh new users in August

New Delhi, Oct 19 (IANS) Reliance Jio continued to be the only operator to add new subscribers, as the telecom major added 84.45 lakh...

India Inc responds warmly to invest in MP

Indore, Oct 19 (IANS) The Indian and overseas industrial captains on Friday responded whole-heartedly to Chief Minister Kamal Nath's request to invest in Madhya...

Trump speaks over phone with Erdogan on Syria ceasefire deal

Washington, Oct 19 (IANS) US President Donald Trump said that he had a phone call with his Turkish counterpart Recep Tayyip Erdogan, downplaying the...
- Advertisement -

More Articles Like This