Merchants crack QR code to secure loans from NBFCs

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The growth of QR code-led digital payments is boosting unsecured merchant loans by non-bank lenders, bringing hundreds of small businesses into the fold of formal credit at a time when mainstream banks are rather circumspect about expanding uncollateralised loan books.

Non-banking finance companies (NBFC) such as Aditya Birla Finance (ABFL), L&T Finance, Poonawala Fincorp, and SMFG India Credit are among those extending credit to small businesses, harnessing the technology backbone offered by payment firms such as BharatPe, Paytm and PhonePe.

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Merchants crack QR code to secure loans from NBFCs



The growth of QR code-led digital payments is boosting unsecured merchant loans by non-bank lenders, bringing hundreds of small businesses into the fold of formal credit at a time when mainstream banks are rather circumspect about expanding uncollateralised loan books.

Non-banking finance companies (NBFC) such as Aditya Birla Finance (ABFL), L&T Finance, Poonawala Fincorp, and SMFG India Credit are among those extending credit to small businesses, harnessing the technology backbone offered by payment firms such as BharatPe, Paytm and PhonePe.

As…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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