SMFG India Credit Partners With PhonePe To Offer Collateral-Free Loans To Small Merchants

ENA Sectors 2025-09-17 17:05:53 New Delhi, Sep 17 (KNN) SMFG India Credit (SMICC), a non-banking financial company (NBFC), has announced a partnership with PhonePe to provide collateral-free loans to merchants on the digital payments platform. The alliance will enable SMICC to extend Merchant Cash Advance (MCA) facilities to registered traders, particularly those in Tier-2 and Tier-3 towns, with the aim of improving access to working capital. Ajay Pareek, Chief Business Officer, SMFG India Credit, said the collaboration would help widen the reach of its financial solutions to Indias self-employed and small business community. By leveraging PhonePes extensive network and our tailored financial products, we aim to empower these businesses with the capital they need to grow, fostering greater financial inclusion and contributing to overall economic progress, he said. Hemant Gala, CEO, PhonePe Lending, highlighted the partnerships role in bridging the credit gap for micro-merchants. This collaboration combines SMICCs lending expertise with PhonePes reach to democratise credit access for Indias underbanked merchants. The growth potential in the heartland of India presents a crucial opportunity for digital financial inclusion, he said. PhonePe, which has a merchant network of over 45 million, has been expanding its role in digital financial services. The partnership is expected to strengthen SMICCs position in the merchant cash advance space while supporting grassroots financial empowerment and contributing to the broader digital lending ecosystem. (KNN Bureau) 43530 https://knnindia.co.in/news/newsdetails/sectors/smfg-india-credit-partners-with-phonepe-to-offer-collateral-free-loans-to-small-merchants 2025-09-17 17:05:53 knnindia.co.in SMFG India Credit Partners With PhonePe To Offer Collateral-Free Loans To Small Merchants