Business
Paytm expands credit distribution business, extends higher ticket loans to consumers, merchants
New Delhi, Dec 6
Paytm, India’s leading mobile payments and financial services distribution company, on Wednesday said it will expand its credit distribution business in partnership with large banks and NBFCs by offering higher ticket personal and merchant loans to lower risk and high credit-worthy customers.
Owing to the strong portfolio performance and widespread acceptance of loan distribution, Paytm witnessed encouraging early trends when the company started working in this direction last quarter.
"As the lending distribution business is maturing, we see newer opportunities of expansion to offer high-value personal and merchant loans. We will continue to focus on originating the high portfolio quality for our lending partners, along with strict adherence to risk and compliance. We have seen great scale and acceptance for our loan distribution business, so we believe this expansion will further aid us to grow the business," said a Paytm spokesperson.
In the light of recent macro development and regulatory guidance and in consultation with lending partners, the company remains focused on driving a healthy portfolio and has recalibrated the portfolio origination of less than Rs 50,000 - prominently the postpaid loan product will now be a smaller part of its loan distribution business moving forward.
Paytm continues to focus on merchant loans that are lended to MSME as business loans. Given that these loans are extended for business purposes to support small merchants, they remain unaffected by the recent regulatory guidance.
The company said it continues to add banks and NBFCs as its lending partners for its loan distribution business.
6 seconds ago
Champions League: Havertz converts late penalty to draw 1-1 with Bayer Leverkusen Berlin, March 12 (IANS) Bayer Leverkusen were denied a first-leg win when Kai Havertz converted a late penalty to earn Arsenal a 1-1 draw in their UEFA Champions League last-16 tie at the BayArena. The opening exchanges were tense, with both sides relying on disciplined defending and leaving little space in the final third. Leverkusen captain Robert Andrich was involved early, receiving a yellow card after holding Viktor Gyokeres outside the area before drawing another warning from referee Halil Umut Meler moments later. Although Arsenal saw more of the ball, clear chances were rare against a compact Leverkusen defense. The visitors came closest midway through the half when Gabriel Martinelli finished a swift move with a curling effort that struck the underside of the crossbar, reports Xinhua. At the other end, Ibrahim Maza threatened sporadically as Leverkusen gradually gained a slight edge in attempts, but neither side was able to break the deadlock before halftime. Leverkusen needed only seconds after the restart to move in front. Martin Terrier forced David Raya into a sharp save with a header, and the resulting corner from Alejandro Grimaldo reached the far post, where Andrich headed home from a tight angle. Arsenal struggled to change the pattern of the match as the hosts remained compact and difficult to break down. Occasional aerial deliveries posed some danger, including moments involving Piero Hincapie and Jurrien Timber, but sustained pressure never developed as Leverkusen continued to defend with composure. As the game entered its closing minutes, Arsenal finally found a decisive moment. Malik Tillman stretched to challenge Noni Madueke inside the area, and after a video review the referee upheld the penalty decision. Havertz, introduced from the bench, stepped up against his former club and converted from the spot in the 89th minute to make it 1-1. The late equalizer leaves the tie finely balanced before next week's second leg in London. "I have mixed emotions. We produced a top performance against a top team and allowed very few chances, so it's frustrating that it ended 1-1. Now we travel to London with high hopes and the belief that we can cause an upset," said Leverkusen coach Kasper Hjulmand. Elsewhere in the last-16 ties, Federico Valverde scored a first-half hat-trick as Real Madrid beat Manchester City 3-0. Khvicha Kvaratskhelia struck twice late on to give Paris Saint-Germain a commanding 5-2 advantage ahead of the second leg against Chelsea, while Bodo/Glimt extended their impressive run with a fifth straight Champions League win after beating Sporting CP 3-0. --IANS bc/
8 minutes ago
Pakistan media, fans slam team after humiliating defeat to Bangladesh
9 minutes ago
Yuki Bhambri enters maiden ATP Masters 1000 SF in Indian Wells
11 minutes ago
I always wanted to do a tough job; I started cricket for that: Bumrah
15 minutes ago
'It's a really exciting time for Australia womenn with Healy moving on and Sophie taking over': Lanning
16 minutes ago
Windies player Javon Searles, two officials suspended by ICC under anti-corruption codes
17 minutes ago
Maniesh Paul jokes about the time when his ‘mental health was on track’ and he had ‘no debt’
18 minutes ago
Mrunal Thakur reunites with BFFs from her former TV show Kumkum Bhagya
20 minutes ago
Kriti Sanon chooses bike ride over luxury car to escape city's traffic post shoot
22 minutes ago
Sivakarthikeyan announces Ammamuthu Surya as director of his production house's next film!
25 minutes ago
Sudhanshu Pandey recalls when his Instagram got hacked: Promised to never click on random links
34 minutes ago
Soha Ali Khan twins with the girl gang at Kritika Kamra & Gaurav Kapur wedding
40 minutes ago
Yami Gautam wishes her ‘one and only’ Aditya Dhar on his birthday with a heartfelt post
