MSME lending platform Indifi Technologies has announced a collaboration with Google Pay to provide instant loans to eligible small merchants on the Google Pay platform.
The collaboration aims to solve the problem of working capital management for MSMEs and help small traders thrive in their business journey, the company said in a statement.
Aditya Harkauli, Chief Commercial Officer of Indifi, said, “Several small businesses in India still struggle to run their operations transparently due to lack of access to formal credit. Since its inception, Indifi has worked to bridge this credit gap. Our collaboration with Google Pay is another step in this direction. Additionally, Indifi has always been mindful of the greater social impact it can create for the community it serves.”
The partnership is aligned with Indifi’s differentiated ecosystem approach to lending. As one of the leading lending ecosystem players in the MSME digital lending space, Indifi has already collaborated with many ecosystem players including Amazon, Zomato, Swiggy and many more.
Sharath Bulusu, Director of Product Management at Google, said: “Access to reliable credit is critical for India’s massive MSME sector. This is even more important to help businesses adapt to the changed economic landscape in the aftermath of the pandemic. We’re committed to making reliable credit easy and convenient for the more than 10 million merchants who use the Google Pay for Business app. Our collaboration with Indifi is a big step in this direction.
The lending experience is designed to be simple, smooth and completely digital. Eligible merchants on the Google Pay for Business app will see Indifi’s loan offers that they can click on and complete through a simple online application. Once they submit the application, Indifi evaluates multiple criteria leveraging its API integrations to make an instant credit decision. GPay’s reach of over 10 million merchants will help accelerate Indifi’s mission of enabling easy access to finance for MSMEs across India.