Paytm and Fullerton India announced a partnership to enlarge digital lending to MSMEs (Micro, Small and Medium Enterprises) and consumers from smaller cities and towns.

“Fullerton India and One97 Communications Limited, which owns the brand Paytm, India’s leading digital payments and financial services platform, have announced a partnership to provide lending products to merchant partners and consumers. With the partnership, the two established institutions will leverage data-driven insights and wide reach to bring credit to new-to-credit users,” adds Fullerton India.

Bhavesh Gupta, CEO, Paytm says, “we have seen great adoption of the lending products among consumers and merchants on our platform. We believe that there is a massive opportunity to provide access to credit to merchants in small cities and towns. We continue to solely focus on helping our blue-chip lending partners, to bring seamless credit products to our customers and merchants. Consumer credit has been growing exponentially through products like Paytm Post-paid and Personal Loans, which we believe can be further expanded through our partnership with Fullerton India.”

Fullerton India was Founded in 2007, one of the leading NBFCs, covering more than 628 branches, covering 600 towns and approximately 58,000 villages.

Sumitomo Mitsui Financial Group (SMFG) has 74.9 percent stake in Fullerton India Credit Company Limited. Fullerton Financial Holdings (FFH). holds a 25.1percent stake in Fullerton India Credit Company Limited and is an independently operated strategic and operating investor in financial and related services in emerging markets.

With the partnership, the fintech user gets Paytm Postpaid (buy-now-pay-later) feature on the Paytm platform. Besides, the partnership is set to offer lending products like merchant loans. Furthermore, the two companies have promised to expand their products offering by including instant personal loans.