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Paytm associates with Aditya Birla Finance to offer easy finance options to smaller merchants

Paytm, a mobile commerce
platform, has entered into a partnership to assist small merchants on its
platform. It has tied up with Aditya Birla Finance Limited, a part of Aditya
Birla Financial Services Group, to assist 50,000+ sellers with easily
accessible and hassle-free finance options. The move is expected to greatly
benefit small and medium sellers while scaling their business. 

Paytm, a mobile commerce
platform, has entered into a partnership to assist small merchants on its
platform. It has tied up with Aditya Birla Finance Limited, a part of Aditya
Birla Financial Services Group, to assist 50,000+ sellers with easily
accessible and hassle-free finance options. The move is expected to greatly
benefit small and medium sellers while scaling their business. 

Commenting on the association Renu
Satti, VP – SME Business said, “We are creating an ecosystem which helps our
merchants to grow their business faster. Accessibility to short-term loans and
working capital loans is often a major roadblock for smaller sellers which we
are working towards removing. Aditya Birla Finance is a trusted player in the
field and is setting up a dedicated system and infrastructure to cater to the
financing requirements of smaller sellers.” 

Rakesh Singh, CEO – Aditya
Birla Finance Limited said, “Majority of the MSMEs in India do not have access
to formal financing channels. ABFL is looking for such mutually benefitting
partnerships which will help these SMEs get access to formal channels of
financing. The partnership with Paytm also creates the opportunity for ABFL to
penetrate the unbanked MSME space faster.”

Paytm has partnered with other
NBFCs and is in talks with several banks with the aim of offering a wide choice
of financing options to its registered merchants.  Through such associations, Paytm envisions
boosting the business of the 50,000 merchants on board its platform and taking
this figure to a total of one lakh by the end of 2015.

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