DMI Finance Private Limited (“DMI”) today announced the launch of a personal loan product on Google Pay to make reliable credit accessible for pre-qualified users of Google Pay.
This product leverages the dual advantages of Google Pay’s customer experience and the digital loan disbursal process of DMI, according to a press statement. It will also help bring new-to-credit users into the ambit.
Eligible users are pre-qualified using criteria set by DMI Finance and the product offer is made available to them via Google Pay. These users will have their application processed in near real-time with access to the money in their bank accounts, the statement added.
The program will disburse up to Rs 1 lakh per loan which would be repayable over a maximum of 36 months. This partnership is being launched over 15K+ pin codes.
Shivashish Chatterjee, Co-founder and Joint MD, DMI Finance, said: “We look forward to scaling this new partnership in the years to come and make the promise of financial inclusion a reality for many millions more.”
Sajith Sivanandan, Business Head, Payments and NBU, Google APAC, LatAm, Africa and EMEA, said: “We are very excited to collaborate with DMI Finance to make this possible for Google Pay users, as it brings to life the promise of financial inclusion enabled by technology.”
