Paytm Partners With Clix Finance To Offer Immediate, Short-Terms Loans
Parvati Misra - Aug 13, 2019
Paytm – a financial services platform has partnered with Clix Finance to provide immediate digital loans to merchants and customers on Paytm’s platform.
- PayTM Launches Made-In-India App Store To Rival Google Play Store
- Paytm To Launch Its Own Mini App Store To Rival Google's Play Store
- Paytm Pulled From Play Store, Founder Thinks Google Is Trying To Promote Google Pay
Paytm – a financial services platform and is currently owned by One97 Communication Limited – has partnered with Clix Finance – an NBFC (non-banking financial company) – to provide immediate digital loans to merchants and customers on Paytm’s platform. As mentioned above, the initiative is aiming at micro, small, medium and self-employed enterprises, which often find difficulties getting a loan from normal banks.
Merchants and customers on Paytm’s platform will receive digital-loans from the platform through “Merchants Lines” and “Deferred Payment or Postpaid” facilities.
According to a statement from One97 Communication Limited, the new product will apply propriety ML models, which are developed by both companies. The new products will grant millions of merchants and customers on Paytm’s platform the ability to obtain immediate digital loans, which will be convenient for micro, small, and medium enterprises (MSMEs) in India.
Nitin Misra, Paytm’s Senior Vice President, stated that the company had been receiving overwhelming feedback for the new postpaid and merchant lending products. Along with their new partnership with Clix Finance, their target was to bring their tested algorithm lending products to a larger merchant and customer base.
For the next few months, Paytm and Clix will announce several of their new products in order to further improve user experience and to satisfy their customers’ demand. And as stated in a statement by Clix’s CEO – Bhavesh Gupta – Clix partnership with Paytm would be a huge step towards bringing customers’ experience to the next level.
Furthermore, Clix’s Founder and Chairman – Pramod Bhasin – claimed that this partnership between Clix and Paytm would create a unique and customized product that would operate seamlessly to tackle the unmet financial demand of millions merchants and customers.
Currently, there are approximately 60 million MSMEs in India that are in need of going digital.
In India, the Alibaba-backed Paytm has the number of users of over 200 million.
Featured Stories
![PDF Prodigy: Expert Techniques for Editing](https://img.mobygeek.com/crop/320x180/photo_galleries/2024/01/18/pdf-6fd5.png)
ICT News - Jan 18, 2024
PDF Prodigy: Expert Techniques for Editing
![The Psychology of Casino Game Design](https://img.mobygeek.com/crop/227x128/2023/08/03/casino-india-89d9.jpg)
ICT News - Aug 03, 2023
The Psychology of Casino Game Design
![3 Reasons your privacy gets compromised online](https://img.mobygeek.com/crop/227x128/2022/05/17/hacker-9565.jpg)
ICT News - May 17, 2022
3 Reasons your privacy gets compromised online
![Apple Devices For Sale](https://img.mobygeek.com/crop/227x128/2022/05/11/96174530-5607-11ec-9bbc-ba5fcc880a33-cf-4827.jpg)
ICT News - May 11, 2022
Apple Devices For Sale
![Pin-Up Review India 2022](https://img.mobygeek.com/crop/227x128/2022/04/12/pexels-andrea-piacquadio-3768128-05c6.jpg)
ICT News - Apr 12, 2022
Pin-Up Review India 2022
![Choosing between a shared and a dedicated server for gaming](https://img.mobygeek.com/crop/227x128/2022/03/29/pexels-field-engineer-442150-df92.jpg)
ICT News - Mar 29, 2022
Choosing between a shared and a dedicated server for gaming
![How The Internet Came Into Being](https://img.mobygeek.com/crop/227x128/2022/03/18/pexels-andrea-piacquadio-914931-4083.jpg)
ICT News - Mar 18, 2022
How The Internet Came Into Being
![The Best Gaming Tech of 2022](https://img.mobygeek.com/crop/227x128/2022/03/17/florian-olivo-mf23rf8xary-unsplash-7b61.jpg)
ICT News - Mar 17, 2022
The Best Gaming Tech of 2022
![Technologies that enable the development of online casinos with live dealers](https://img.mobygeek.com/crop/227x128/2022/02/16/istockphoto-1200707009-612x612-f9fa.jpg)
ICT News - Feb 16, 2022
Technologies that enable the development of online casinos with live dealers
![Remember These Safety Measures While Playing at an Online Casino](https://img.mobygeek.com/crop/227x128/2022/02/08/pexels-photo-3279685-8114.jpeg)
ICT News - Feb 08, 2022
Comments
Sort by Newest | Popular