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Indifi Technologies to offer loans to merchants through Google Pay

Indifi serves the MSMEs present on these ecosystem platforms through embedded lending offerings.

Fintech lender Indifi Technologies has entered into a partnership with Google Pay to provide instant loans to eligible small merchants on the payments app’s platform, the company said in a statement. Indifi aims to reach out to 15-20% of Google Pay’s 10 million-strong base of small merchants.

As a player in the digital micro, small and medium enterprises (MSME) credit space, Indifi has already partnered with Amazon, Zomato and Swiggy. Indifi serves the MSMEs present on these ecosystem platforms through embedded lending offerings.

Aditya Harkauli, chief business officer, Indifi, said the loans offered through Google Pay will be unsecured with an average ticket size of Rs 2.5-3 lakh. On an incremental basis, the lender sees 10% of its fresh loans being sourced through the association with Google Pay. “Several small businesses in India still struggle to run their operations seamlessly due to lack of access to formal credit. Since its inception, Indifi has strived to address this credit gap. Our collaboration with Google Pay is another step in this direction,” Harkauli said.

The lending experience is designed to be entirely digital. Eligible merchants on the Google Pay for Business app will see loan offers from Indifi, on which they can click and complete a simple online application. Once they submit the application, Indifi will evaluate multiple criteria by leveraging its application programming interface (API) integrations to make an instant credit decision. Repayments will be enabled through the National Automated Clearing House (NACH) platform.

Sharath Bulusu, director – product management, Google, said the company is committed to making reliable credit easy and convenient for more than 10 million merchants who use the app. “Our collaboration with Indifi is a great step in this direction,” he said.

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