In a move aimed at enhancing access to formal credit, SMFG India Credit has announced a strategic partnership with Google Pay. The collaboration will enable the offering of collateral-free personal loans to Google Pay users across India.
Eligible users can apply for loans directly through the Google Pay app, with disbursements taking place within minutes. The end-to-end digital process is designed to provide a fast, secure and convenient borrowing experience.
The partnership underlines SMFG India Credit’s efforts to promote financial inclusion by reaching underserved and emerging customer segments. It also strengthens the company’s digital lending capabilities by leveraging innovative technology platforms.
Speaking on the partnership, Ajay Pareek, Chief Business Officer, SMFG India Credit said, “As part of its long-term strategy, SMFG India Credit continues to strengthen its leadership in the digital lending ecosystem by leveraging technology and forming strategic alliances with fintech platforms. These efforts reflect the company’s focus on expanding reach, promoting financial empowerment, and supporting the nation’s vision of a digitally inclusive economy.”
SMFG India Credit is a Reserve Bank of India-registered NBFC and a wholly owned subsidiary of Sumitomo Mitsui Financial Group.
