Here’s how merchants can avail instant business credit from Paytm

Image Source: WEBSITE: PAYTM

Paytm Bank,

One97 Communications Limited owns the Paytm brand, India’s leading digital payments and financial services company, is one of the largest providers of merchant credit in the country, and helps millions of its trading partners take out instant loans for business purposes. The company has partnered with prospective commercial banks and NBFCs to offer collateral-free instant loans of up to £500,000 at a low interest rate, and also offers a unique daily EMI product tailored to small traders.

The loans can be accessed through the “Merchant Lending Program” in the Paytm for Business app. The algorithm determines the merchant’s creditworthiness based on their daily transactions and arrives at a pre-qualified loan offer.

With a fully digital loan application process, no additional documents are required. Loan repayment is primarily collected from the merchant’s daily settlement with Paytm and there are no prepayment fees on these loans.

Whether it’s a business expansion in the form of increasing the area of ​​your store or increasing the inventory in the store, lack of liquidity will no longer stop you from growing your business.

Get a business loan through Paytm in these 5 easy steps:

  1. From the Paytm for Business app home screen, tap the Business Loan icon and check the offer available to you. You can also increase or decrease the loan amount according to your needs.
  2. Once you select the amount, you can see details such as loan amount, amount to be paid out, total amount to be paid, daily rate, term and more
  3. Confirm your details, click the checkbox and tap “Get Started” to continue. You can also consent to receive your KYC details from the CKYC to quickly complete your loan application.
  4. On the next screen, you can confirm or enter details such as your PAN card details, date of birth, and email address. Once done, you can proceed to the offer confirmation. Once the PAN details are verified, your credit score will be checked and the KYC details will be verified.

After submitting your loan application, the loan amount will be paid out in your bank account. Please ensure all information is correct prior to final submission.
The company had said in its Q3 FY22 report that the number of merchant loans disbursed on the platform increased 38% year-on-year, while the value of merchant loans increased 128% year-on-year. More than 25% of the loans were disbursed to new borrowers. The average ticket size continues to increase with scaling and is now ₹120,000-140,000 with an average maturity of 12-14 months. Recurring loans have seen healthy take-up, with 25% of merchants taking out more than one loan.

((Views expressed in the article are from Paytm. Responsibility for the article rests solely with the author. The content has not been verified by India TV Channel and

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