In a remarkable partnership, Paytm, the leading brand in digital payments, has joined hands with Shriram Finance, a prominent retail non-banking finance company(NBFC). Together, they aim to drive financial inclusion across the nation.
The Vision of Financial Inclusion
Paytm believes in the power of technology to transform lives. Their commitment to financial inclusion led to a strategic alliance with Shriram Finance. Through this collaboration, Paytm aims to make Shriram Finance’s products readily available on the digital platform, expanding their credit services and reaching even more users nationwide.
Strengthening the Credit Ecosystem
Paytm’s technology-led lending approach has revolutionized the credit ecosystem. By partnering with esteemed financial institutions like Shriram Finance, they can digitally distribute loans and empower individuals and businesses with easy access to credit.
Catering to Growing Retail Credit Demand
India is witnessing a surge in retail credit demand, especially from rural and semi-urban regions. With the advent of digital literacy and mobile prevalence, the young generation is making transactions through handheld devices. Paytm and Shriram Finance are poised to meet this growing demand and provide financial solutions that resonate with the digital era.
Fueling the Dreams of Small Merchants and Entrepreneurs
Merchants on the Paytm network will now have the opportunity to avail of loans from Shriram Finance, enhancing their financial capabilities. With this partnership, consumer loans will also be offered, bringing economic empowerment closer to the masses.
The Strength of Shriram Finance
Shriram Finance boasts an impressive portfolio with Assets under Management of Rs 1.85 lakh crore, a vast employee base of 64,052, and 2,900+ operational branches. As one of India’s largest retail NBFCs, Shriram Finance’s presence, especially in southern India, will be pivotal in expanding access to credit nationwide.
A Shared Vision for the Future
Paytm’s founder and CEO, Vijay Shekhar Sharma, expressed his excitement about the partnership, emphasizing the commitment to serve small merchant partners and entrepreneurs. Paytm’s President and COO, Bhavesh Gupta, echoed the sentiment, emphasizing their dedication to digital lending compliance and the quality of loans.
As Paytm and Shriram Finance join forces, they embark on a journey towards a financially inclusive India. With cutting-edge technology and a commitment to empowering lives, they are set to shape the future of financial services, making credit accessible to all, regardless of their location or background.
Together, these fintech biggies envision a world where opportunities abound, dreams thrive, and financial empowerment knows no bounds.
