Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns

Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns
Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns
Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns

Fullerton India partners with Paytm to expand digital lending to MSMEs and consumers with special focus on smaller cities and towns

Leverages Paytm’s distribution and technology as well as Fullerton’s deep risk assessment capabilities and scale 

Partnership to offer innovative lending products like BNPL, merchant loans, personal loans, using Paytm’s data-driven insights and Fullerton’s experience & understanding of this segment

Enables access to credit for India’s merchants to help them scale their business


January 24, 2022: Fullerton India and One97 Communications Limited, that owns the brand Paytm, India’s leading digital payments and financial services platform, have announced a partnership to provide lending products to merchant partners and consumers. With the partnership, the two established institutions will leverage data-driven insights and wide reach to bring credit to new-to-credit users. 


The program will offer Paytm Postpaid (buy-now-pay-later) to millions of consumers on the Paytm platform while utilizing Fullerton’s deep risk assessment capabilities and scale. Fullerton India and Paytm will further expand their product offerings to include instant personal loans, which are end-to-end digitally originated and disbursed using Paytm’s technology and Fullerton’s pan India presence.


Leveraging Paytm’s deep insights and engagement with merchants, the partnership will also offer merchant loans across the country. The two institutions would establish a wide network, specifically catering to MSMEs across small cities and towns and help them grow their business. They aim to co-create innovative merchant loan products using customer payment behaviour and Fullerton’s years of experience of understanding of this segment. 


Bhavesh Gupta, CEO, Paytm Lending said, “We have seen great adoption of the lending products among consumers and merchants on our platform. We believe that there is a massive opportunity to provide access to credit  to merchants in small cities and towns. We continue to solely focus on helping our blue-chip lending partners, to bring seamless credit products to our customers and merchants. 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.”

     

Shantanu Mitra, CEO & MD of Fullerton India, said, “We at Fullerton India believe that buy-now-pay-later is the present and, in the future, too, will continue to offer tremendous opportunities to drive exponential growth in digital lending across customer segments. We understand the importance of timely & convenient credit facilities for merchants and small businesses at the time of business transactions and orders. 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.”

About Paytm: 

Paytm is India’s leading digital payments and financial services company, which offers products and services to consumers and merchants. Paytm offers consumers payment services like utility payments and money transfers by enabling them to pay via linking their bank account or opening bank account or by using Paytm Payment Instruments (PPI) like Wallet and UPI. To merchants, Paytm offers acquiring devices like Soundbox, EDC, QR and Payment Gateway where payment aggregation is done through PPI and also other bank’s financial instruments as well. To further enhance merchants’ business, Paytm offers merchants commerce services through advertising and Paytm Mini app store. Powered by Paytm’s acquiring business, Paytm is the market leader in credit-based consumption in India.


Paytm media contact:

corpcomm@paytm.com


About Fullerton India

Fullerton India Credit Company Ltd. (“Fullerton India”) started its India operations in 2007, and is today a leading NBFC with a pan India presence. Working with over 12,500 employees, it reaches its market by connecting with over 2.3 million customers, be it in cities, towns or villages, right at their doorstep. Fullerton India penetrates deep inside the market through more than 628 branches, covering 600 towns and approximately 58,000 villages. It operates in the niche sectors and provide financial access to the underserved and unserved segments.


Shareholders -

Sumitomo Mitsui Financial Group (SMFG)

SMFG holds a 74.9% stake in Fullerton India Credit Company Limited and is the holding company of one of the largest global banking and financial service groups, offering a diverse range of financial services including commercial banking, leasing, securities and consumer finance with a heritage exceeding 400 years in Japan. SMFG is listed on the Tokyo and New York (via ADR) Stock Exchanges and has a market capitalization of approximately US$47.0 billion (as of 30 December 2021). SMFG is one of the global systemically important banks (G-SIBs) and has high credit ratings of A1 by Moody’s Investors Service and A- by Standard & Poor’s.


Fullerton Financial Holdings (FFH)

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. FFH creates shareholder value by building differentiated business models focused on the Mass Market and SME segments, and enabling digital innovation for its portfolio companies. FFH is a wholly-owned independent portfolio company of Singapore-headquartered investment company, Temasek. As at end December 2020, FFH’s portfolio includes investments in 6 countries with total Group assets of SGD 6.9 billion.