To expand distribution of merchant loans to small cities and towns in India
One 97 Communications (Paytm) announced a partnership with Piramal Capital & Housing Finance, herein referred as Piramal Finance, to expand distribution of merchant loans to the small cities and towns of India.Piramal Capital & Housing Finance is a wholly-owned subsidiary of Piramal Enterprises and an established financial services company in India.
This partnership will expand Paytm's loan distribution business, supported by Piramal Finance's wide network of over 300 branches across India. It will also help drive financial inclusion by bringing access-to-credit to small businesses and retailers.
Paytm has acquired a large number of merchants from big and small cities across the country, amassing a large base which Piramal Finance plans to leverage and bring ease of credit to small business owners through data-driven underwriting along with credit sanctions based on business income. Additionally, this partnership will be expanded soon to include personal loans, where Piramal Finance brings its deep understanding of risk and customer segment.
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