Good news for Google Pay users: In case of emergency Rs. 15,000rs Loan within 10minutes

Google Pay said it will start offering small business loan products to customers across the country by partnering with banks and finance companies.

Google Pay : Looking to further expand its presence in India, Google Pay said it will also start offering loan products to small businesses. Many people in the country still lack adequate access to proper or equitable financial services.

In this context, Google Pay has announced that it will start providing loan products to consumers and small businesses in the country in partnership with banks and finance companies. “Although the credit (loan) is issued by recognized financial institutions, Google Pay collaborates with them to make them accessible, easy and convenient,” the agency said.

The fintech company, which competes with India’s Paytm and PhonePe, offers merchants Rs. 15,000 has partnered with DMI Finance to offer sachet or small-ticket loans. In addition, it also offers a line of credit in partnership with ePayLater to help merchants meet their working capital requirements. “India’s debt is significantly lower compared to the global average,” the agency said. Also, Google Pay has the largest share of UPI volumes in the country along with PhonePe and Paytm.

Google Pay for Consumers is expanding its portfolio of personal loans through a partnership with Axis Bank. It is also known to make personal loans available on Google Pay Application. As the use of UPI has been increasing in the country for several years, the use of cash is decreasing. In this background, customers are increasingly using applications like Google Pay, Phone Pay, Paytm.

Google Pay for Consumers is expanding its portfolio of personal loans through a partnership with Axis Bank. It is also known to make personal loans available on Google Pay. As the use of UPI has been increasing in the country for several years, the use of cash is decreasing. In this background, customers are increasingly using applications like Google Pay, Phone Pay, Paytm.