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Google Pay and Indifi partner to offer instant MSME credit

Friday 14 January 2022 13:45 CET | News

Alternative payments solution Google Pay has announced its latest partnership with India-based online lending platform Indifi Technologies to provide loans to MSMEs.

Currently, Google Pay ranks second by volume transactions in India’s Unified Payments Interface (UPI) in the country and is looking to expand its offering features by introducing credit solutions for local medium, small, and micro enterprises (MSMEs). The loans offered go between approximately USD 3,370 and USD 4,000.

Google Pay has continuously increased its number of financial services offered in the country in the past year by providing loans and short-term credits to small merchants and individuals via CASHe, Zest Money, and others, while also offering ticketing services in partnership with local banks.

The US-based payments provider counts for over 10 million merchants in India alone and, through these measures, is looking to increase its client pool and contribute to the country’s digitisation as it develops towards a cashless economy. 

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Keywords: Google Pay, partnership, SMEs, SME lending, online payments, lending, UPI, mobile payments
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce