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Paytm initiates Loan Services to Small Merchants

Paytm initiates Loan Services to Small Merchants

Again Paytm makes in to the news!

What is Paytm Loan all about?

Recently, Paytm announced its new capital loan offerings of 10,000 to 1 lakh to kirana stores, chemists, auto and taxi drivers, milk cooperatives and other O2O merchants who accept online payments through this medium. The financial profile of the party will be assessed by financial institutions like Capital Float and Aditya Birla Finance. Depending on the eligibility, risk-taking factor, value and volume of transactions, these financial institutions will give a green signal to sanction the loan. Only then, Paytm will offer unsecured and low-interest loans. The current alternative source of funds like Chit funds are heavy on the pocket as compared to this newly introduced loan offering by the top-most mobile wallet platform of India.

Benefiting the Merchants

With this, small merchants can go easy on their business. Previous, it was mandatory for them to borrow high-interest chit funds. If you want to get a WC loan, merchants can push more and more transactions via Paytm platform. In this way, your chances of availing unsecured loan scales up.

Paytm aims to encourage merchants to accept digital payments and push the shoppers to depend on mobile wallets.

By next year, will India reach the world of digital payments?

Takeaways:

  • The financial profile of the party will be assessed by financial institutions like Capital Float and Aditya Birla Finance.
  • Paytm will offer unsecured and low-interest loans.
  • If you want to get a WC loan, merchants can push more and more transactions via Paytm platform.

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