Indifi Technologies will offer merchant loans through Google Pay

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Indifi serves MSMEs on these ecosystem platforms through integrated lending offerings.

Fintech lender Indifi Technologies has partnered with Google Pay to provide instant loans to eligible small merchants on the payment app’s platform, the company said in a statement. Indifi aims to reach 15-20% of Google Pay’s small merchant base of 10 million.

As a player in the field of digital credit for micro, small and medium enterprises (MSMEs), Indifi has already partnered with Amazon, Zomato and Swiggy. Indifi serves MSMEs on these ecosystem platforms through integrated lending offerings.

Aditya Harkauli, Commercial Director of Indifi, said loans offered through Google Pay will be unsecured with an average note size of Rs 2.5-3 lakh. On a phased basis, the lender sees 10% of its new loans coming from the association with Google Pay. “Several small businesses in India still struggle to manage their operations transparently due to lack of access to formal credit. Since its inception, Indifi has strived to bridge this credit gap. Our collaboration with Google Pay is another step in that direction,” Harkauli said.

The lending experience is designed to be fully digital. Eligible merchants on the Google Pay for Business app will see Indifi’s loan offers, which they can click on and complete a simple online application. Once the application is submitted, Indifi will evaluate multiple criteria leveraging its Application Programming Interface (API) integrations to make an instant credit decision. Refunds will be activated through the National Automated Clearing House (NACH) platform.

Sharath Bulusu, director of product management at Google, said the company is committed to making reliable credit easy and convenient for the more than 10 million merchants who use the app. “Our collaboration with Indifi is a big step in that direction,” he said.

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