Digital debt collection makes strides as lenders use tech to cut visits

For a business that's taken huge strides in recent years, mirroring the growth in retail credit, there's hardly anything by way of a sizing study on it

“We currently manage collections for over 98 million retail and small-business loan accounts, covering a loan book of about $250 billion,” says Rishabh Goel, cofounder and chief executive officer (CEO) of Credgenics, a software-as-a-service platform for debt collection. With more than 700 million smartphone users and over 450 million UPI users, digital access is everywhere. “WhatsApp, used by over 550 million of us, is now a default channel for collections and legal followups,” points out Nitin Purswani, cofounder and CEO of Medius Technologies. And that “over 25 million people paid EMIs digitally in May 2025. Many of these are missed