Paytm partners with Shriram Finance for loans distribution

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Paytm, India’s leading digital payments platform, has joined hands with Shriram Finance, the country’s largest retail NBFC, to offer loans to its customers. This will help more people get access to credit and improve their financial well-being.
Paytm and Shriram Finance will work together to provide loans to merchants and consumers on Paytm’s app. Paytm will use its technology and reach to connect borrowers with Shriram Finance’s products. Shriram Finance will use its lending expertise and presence nationwide, especially in rural areas, to serve customers.

This partnership will benefit both Paytm and Shriram Finance. Paytm will be able to offer more financial services to its users and grow its loan distribution business. Shriram Finance will be able to tap into the digitally savvy and young generation of customers who prefer using mobile phones for their transactions.

Umesh Revankar, the Executive Vice Chairman of Shriram Finance, said India has a huge demand for retail credit, especially from rural and semi-urban areas. He said that Shriram Finance wants to serve these customers by partnering with Paytm, the pioneer of mobile payments.

Vijay Shekhar Sharma, the Founder, and CEO of Paytm, said that Paytm is committed to expanding credit distribution with its new partner Shriram Finance. He said that Paytm is happy to create credit offerings for small merchants and entrepreneurs in India.

Bhavesh Gupta, the President and COO of Paytm said that Paytm is deepening access to financial services with its range of loan products in partnership with lenders like Shriram Finance. He said that Paytm is focused on digital lending compliance and the quality of loans. He also said that Paytm aims to boost access to credit with Shriram Finance’s strong presence in Southern India.

Shriram Finance has assets worth Rs 1,85,683 Crore, 2,922 branches, and 64,052 employees.

Conclusion: 
Paytm and Shriram Finance have announced a strategic partnership to offer loans to Paytm’s customers. This will enable more people to access credit and improve their financial situation. Paytm will leverage its technology and reach to distribute Shriram Finance’s products. Shriram Finance will leverage its lending expertise and presence to serve the customers. This partnership will benefit both the companies and the customers. Paytm and Shriram Finance are committed to providing quality and compliant loans to the small merchants and entrepreneurs of India.

Keywords: Paytm, Shriram Finance, loans, credit access, financial inclusion, small merchants, entrepreneurs, India

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