Indifi, Google Pay join hands to offer instant credit to small businesses

MSME lending platform Indifi Technologies announced a collaboration with Google Pay to provide instant loans to eligible small merchants on the Google Pay platform.

The collaboration aims to address the problem of meeting the working capital management of MSMEs and to help small merchants thrive in their business journey, said the company in a release.

Aditya Harkauli, chief business officer, Indifi said, “Several small businesses in India still struggle to run their operations seamlessly due to lack of access to formal credit. Since its inception, Indifi has strived to address this credit gap. Our collaboration with Google Pay is another step in this direction. Further, Indifi has always been mindful of the larger social impact it can create for the community that it serves."

The partnership is aligned with Indifi’s differentiated ecosystem based approach to lending. As one of the leading ecosystem lending player in the digital MSME credit space, Indifi has already partnered many ecosystem players including Amazon, Zomato, Swiggy and more.

Sharath Bulusu, director, Product Management, Google said, “Access to reliable credit is critical to the massive MSME sector in India. This is even more important to help businesses adapt to the altered economic landscape in the aftermath of the pandemic. We are committed to making reliable credit easy and convenient for more than 10 million merchants who use the Google Pay for Business app. Our collaboration with Indifi is a great step in this direction.”

The lending experience is designed to be simple, smooth and entirely digital. Eligible merchants on the Google Pay for Business app will see loan offers from Indifi which they can click and complete through a simple online application. Once they submit the application, Indifi evaluates multiple criteria by leveraging its API integrations to make an instant credit decision. GPay’s reach of more than 10 million merchants will help accelerate Indifi’s mission of enabling easy access to finance for MSMEs across India.