PAYTM REINVENTS AS A FULL FLEDGED FINANCIAL SERVICES PLAYER

The Road Map:

Paytm to user 's past transaction data to assign credit limits.
Co ties up with thousands of neighbourhood kirana & retail stores.
Usage and re-payment behaviour to be monitored for credit limits.
Up To Rs.1 Lakh for Elite Customers.

India's most-valued fin-tech, Paytm,is set to harness increased credit demand through the lockdown to extend its foray into micro-credit services for users paying bills and making purchase online.

The Softbank and Alipay-backed digital payments giant said that it has tied up with non-bank lenders Clix Capital and Arthimpact Digital Loans to tap into the digital lending market at a time when traditional lenders are turning risk-averse due to stress in various consumer segments in the aftermath of the lockdown.

Paytm will use past transactions data of its users on the application to assign credit limits for loans for daily purchases of grocery and retail goods. the limit can extend up to Rs.1 Lakh for "elite"customers, according to a Paytm official.The credit line can also be availed by customers making purchases on Paytm Mall, its e-commerce venture, the official said.

The plan is to eventually extend the service to most active users over the next few years in stages.

"We aim to provide the postpaid facility to most of our active Paytm users over the course of the next few years"said Amit Nayyar President Paytm."

"We are entering into the lending space for the long term and aim to build and grow this business strategically."

Sandip Ginodia , Director

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