PayU launches full-stack solutions to offer flexible credit options to small businesses

Reader's Pick

India based online payment solution provider, PayU has announced the launch of its full-stack product solutions to  provide simplified access to credit to its 3.5 lakh merchants. 

It has launched three products – Marketplace Early settlement, Priority Settlement, and Merchant Lending. These solutions provide access to working capital, enhance cash flow management & increase liquidity, boosting SMB growth. 

“PayU’s solutions provide customized offerings with credit amounts starting from a nominal Rs 25,000 for SMBs to several crores, and repayment cycles ranging from 1 week to 1 year,” the statement said.

- Advertisement -

Commenting on the launch, Hemang Dattani, Head, Growth Businesses at PayU, said, “SMBs are growth drivers for the country, accounting for a third of India’s GDP. However, access to credit continues to be a major infrastructural hurdle for them. Drawing on our payments expertise & deep understanding of Indian SMBs, we offer diverse credit products for merchants of differing sizes, categories & business life cycles, supporting digital financial inclusion. This segment will be an important focus area for us in 2022.”

“With PayU’s Priority Settlement solution, we could access funds within an hour, solving our operational problems of paying advance to logistics partners, suppliers and giving our business increased liquidity. Solutions like these are the need of the hour for exponentially growing businesses like ours in the current dynamic and constantly evolving business ecosystem in India. With minimum hassle & paperwork, our team was able to apply for & check settlement status in real-time from our dashboard. The process was fast, seamless and the right fit for our business,” Abhishek Jain, Director at RasoiShop, an omnichannel kitchenware retailer added.

“PayU, in partnership with other lenders, will also bring different credit solutions to meet the varied needs of SMB merchants. These include flexibility on tenor and repayment schedules, best-in-class loan life cycle experience, and revenue-based credit assessment,” the statement added

- Advertisement -
Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sought...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the first time ever for...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

Ampere Electric to setup e-mobility manufacturing plant in Tamil Nadu

Electric Mobility Company Ampere Electric has announced a phased investment potential of Rs 700...

COVID-19: Amazon India partners with Acko General Insurance to offer free health insurance to sellers

India's leading e-commerce company Amazon India on Wednesday announced its partnership with Acko General...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countries around...

Why You Need to Be Serious About Cybersecurity for Your Business

The digital age has redefined how businesses communicate, advertise, and share information. Cyber threats...

Feeding India through Ads: A TechGraph Campaign to feed India

As the second wave of Coronavirus (COVID-19) has affected millions of families in India,...

Play Ventures leads $4.1 Mn series seed round for INCRMNTAL

Israel-based incrementality measurement platform, INCRMNTAL has raised $4.1 million in series seed round funding...

PickMyWork snaps $1 Mn in series seed round

PickMyWork, an India-based startup that assists digital companies to acquire end customers (individual users...

The benefits of chatbots in healthcare

The Pandemic has made significant improvements to healthcare services. Industry professionals had to switch...

Bitcoin Price Crash

Bitcoin crypto was launched in 2009. It was the beginning of the digital assets...