Google Sets Itself To Enter Retail Business Loan Segment

By Consultants Review Team Thursday, 19 October 2023

Google India offered sachet loans on the Google Pay app on Thursday to assist small enterprises in the nation. Google India stated that merchants in India frequently require smaller loans, therefore the internet giant created sachet loans on the Gpay app. Google India added that the company will provide loans to small enterprises starting at $15,000 that may be serviced in smaller installments as low as 111.

Sachet Loans are a form of nano-credit or bite-sized loans that are provided for a brief tenure and are mostly approved immediately, followed by instant disbursal of the loan amount.

Google Pay also enabled a credit line for retailers in collaboration with ePayLater, assisting merchants with their working capital requirements. Merchants can use it to purchase goods and supplies from all online and offline wholesalers.

As per the post in X, Google India stated, “Our experience with merchants has taught us that they often need smaller loans and simpler repayment options. To meet this need, sachet loans on Google Pay with DMIFinance will provide flexibility and convenience to SMBs, with loans starting at just 15,000 rupees and can be repaid in simpler repayment amounts as low as 111 rupees.”

Further, Ambarish Kenghe, vice-president at Google Pay informed that ₹167 lakh crore value was processed through UPI in the last 12 months. He added that the payment application prevented scams worth ₹12,000 crore


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