One 97 Communications (Paytm) has collaborated with Piramal Capital & Housing Finance (Piramal Finance) to expand distribution of merchant loans to the small cities and towns of India. Piramal Capital & Housing Finance is a wholly-owned subsidiary of Piramal Enterprises and an established financial services company in India. This partnership will expand Paytm's loan distribution business, supported by Piramal Finance's wide network of over 300 branches across India. It will also help drive financial inclusion by bringing access-tocredit to small businesses and retailers.
Paytm has acquired a large number of merchants from big and small cities across the country, amassing a large base which Piramal Finance plans to leverage and bring ease of credit to small business owners through data-driven underwriting along with credit sanctions based on business income. Additionally, this partnership will be expanded soon to include personal loans, where Piramal Finance brings its deep understanding of risk and customer segment.
One 97 Communications (Paytm) is India's leading digital ecosystem for consumers as well as merchants.
