SMFG India Credit Partners with PhonePe to Revolutionize Merchant Lending

SMFG India Credit (SMICC) has partnered with PhonePe to offer collateral-free credit to merchants on PhonePe’s platform. This initiative targets merchants in Tier-2 and Tier-3 cities, aiming to strengthen SMICC's market position and provide PhonePe's merchants with accessible business expansion solutions.

In a significant development, NBFC firm SMFG India Credit (SMICC) announced its strategic partnership with PhonePe on Tuesday. This collaboration aims to provide collateral-free credit to merchants registered on the PhonePe platform.

This alliance facilitates the distribution of Merchant Cash Advance (MCA) loans to a wide range of merchants, particularly those in Tier-2 and Tier-3 towns, as highlighted in a joint statement.

The partnership is set to enhance SMICC's standing as a leading lender in the digital space while bolstering PhonePe's commitment to its expansive merchant network by offering accessible credit solutions designed to promote business growth.

(With inputs from agencies.)