Paytm accelerates instant loans for MSMEs, self-employed; partner of Clix

Paytm has partnered with Clix Finance. Image: PTI

Vijay Shekhar Sharma’s Paytm has stepped up its lending operations and partnered with Clix Finance India Pvt. ltd. to provide loans to MSMEs and the self-employed, it announced in a statement on Tuesday. Clix, a digital lending NBFC, and Paytm will now offer instant digital loans to Paytm customers and merchants. The company is targeting “new creditors, the self-employed, small and micro businesses, and small borrowers,” who are largely underserved and have difficulty obtaining loans, the digital commerce company said. One97 Communication Ltd will use proprietary machine learning models developed by Paytm and Clix, for the same. Paytm already has a partnership with Tata Capital and Indifi, two other NBFCs.

Paytm said it will offer, among other products, “deferred or post-paid payment” and “merchant lines” to its customers and merchants. Paytm and Clix are expected to launch several other new products over the coming months to meet consumer demands. Announcing the partnership, Nitin Misra, Senior Vice President of Paytm, said the company has already seen an overwhelming response to Paytm Postpaid & Merchant Loans. some products.

Meanwhile, Paytm’s e-commerce arm, Paytm Mall, has announced its collaboration with US multinational e-commerce company eBay. eBay has acquired a 5.5% stake in Vijay Shekhar Sharma’s Paytm Mall in a move that is expected to give eBay a firm foothold in the domestic e-commerce market. eBay has already ventured and failed twice to gain a significant share of the Indian e-commerce market.

However, thanks to the recent collaboration, Paytm Mall customers will be able to purchase products available on eBay. “This will make eBay inventory accessible to tens of millions of active Paytm Mall customers in India,” Paytm Mall said in a statement. Paytm Mall, a subsidiary of India’s largest e-commerce platform, plans to sell millions of products from eBay inventory through its digital platform. Neither company has disclosed details of the deal.

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