Small businesses-focused online lending platform Indifi Technologies has collaborated with Google Pay to provide instant loans to eligible medium, small and micro enterprises (MSMEs) merchants through the Google Pay platform. The borrowing process is entirely digital and eligible merchants on the Google Pay for the Business app can click on loan offerings from Indifi and submit an application online. The loans will be in the range of Rs 2.5 to Rs 3 lakh.
With a 35 per cent share of monthly UPI volumes, Google Pay has been growing its financial services play over the past year like other payments leaders in India. It already provides loans and short-term credit to individuals and small merchants in tie-ups with IIFL Loans, CASHe, and ZestMoney, among others.