India: Paytm Deepens Micro-Credit Foray as Other Firms Shy Away

Source: ETtech

India’s most valued fintech, 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 purchases 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.

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