Loans

Google Pay, Indifi Partner to Offer MSME Loans

Google Pay
Written by Publishing Team

Indian online lender Indifi Technologies is working with Google to offer instant loans to small merchants through the Google Pay platform.

According to reports published on Friday (January 14), the partnership is designed to help micro, small and medium-sized businesses gain access to working capital.

“Many small businesses in India are still struggling to run their operations smoothly due to the lack of access to formal credit,” said Aditya Harkuli, Chief Business Officer at Indevi. Since its inception, Indifi has strived to address this credit gap. Our collaboration with Google Pay is another step in that direction.”

Sharath Poloso, Director of Product Management at Google, adds: “Access to reliable credit is critical to India’s huge MSME sector. This is even more important to help businesses adapt to the changing economic landscape in the wake of the pandemic. We are committed to making reliable credit Easy and convenient for over 10 million merchants using the Google Pay for Business app. Our collaboration with Indifi is a great step in that direction.”

The companies say the program’s lending experience is designed to be simple and entirely digital. Merchants will see loan offers from Indifi on the Google Pay for Business app, and can click on them to complete the order.

Once submitted, Indifi evaluates a series of criteria using its API integration to make an instant credit decision. The access of Google Pay to more than 10 million merchants will make it easy for Indifi to offer easy access to finance to MSMEs in India.

Read more: Facebook launches SMB loan program with India’s Indifi

Endevi says the partnership is in line with her “differentiated approach to lending ecosystem”. The company previously worked with companies such as Amazon, Swiggy, Zomato and, in August 2021, Facebook.

In this partnership, Facebook and Indifi teamed up to help attract more local businesses in India as Facebook advertisers. The social media giant has worked with Indifi to provide loans from 500,000 rupees to 5 million rupees ($6,719 to $67,191).

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