Paysense: Marrying tech, data to offer loans on tap

These are not lifetime loans but loans that one can avail of two or three times in a year

Aaron Lewis from Mumbai wanted to take his parents on a vacation to Europe but was falling short by Rs 1 lakh. Lewis came across an online advertisement of PaySense, a Mumbai-based fintech start-up that runs a digital credit platform. Without wasting any time, he downloaded its app and applied for a loan. ‘‘I received Rs 1 lakh loan from them in seven days and the interest rate is lower than what banks charge on credit cards,” Lewis says. He is one among the 15,000 customers who have availed Rs 40 crore in loans from PaySense. It claims 300,000 customers