CURRENT AFFAIRS

Detailed explanation-1: -Fullerton India and One97 Communications, which owns Paytm, have partnered to provide lending products to merchant partners and consumers. “With the partnership, the two will leverage data-driven insights and wide reach to bring credit to new-to-credit users,” said a statement on Monday.

Detailed explanation-2: -Paytm Partners with Piramal Finance to Offer Loans to Merchants and Small Businesses of India.

Detailed explanation-3: -Paytm’s credit strategy is three-pronged: Of the Rs 7,313 crore of loans disbursed by Paytm this quarter, 55 percent of them by value were buy-now-pay-later loans (BNPL) or what the company calls Paytm Postpaid. Twenty-eight percent were personal loans to consumers and 17 percent to merchants.

Detailed explanation-4: -Paytm, which is owned by One97 Communications, helps its partner merchants to monetise with loans and monthly subscriptions on various payment tools.