The two companies provide credit services for MSMEs. Businesses can use this credit service to facilitate their business operations and purchase FMCG (fast moving consumer goods) stocks. The contactless service is introduced considering the COVID-19 pandemic situation in the country and will help businesses with pre-approved credit facilities to purchase their retail stock and cater to the needs of general population amid lock down.
The partnership is being launched in Colombia with Procter & Gamble, a global consumer goods company whose products are in high demand considering the current situation. P&G merchants in Colombia can pay for their stock orders using digital credit from their Movii wallet.
These merchants credit limit will be derived using Yabx’s credit decision analytics engine using machine learning tools. The credit process, starting with the merchant onboarding, credit disbursal and collections would be enabled using Yabx’ digital lending platform, according to the official press release.
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