Tag: partners

KreditBee partners with Mswipe to offer ‘cardless EMI’ at retail stores

Banking & Finance

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Fintech lending platform KreditBee on Thursday announced its partnership with Mswipe to offer fully digital ‘cardless EMI’ at leading retail stores. Through this partnership, KreditBee aims to expand its offline presence and enable purchases of more than ₹5 crore per month.

Under ‘cardless EMI’, KreditBee will provide ‘pay later’ options for purchases of up to ₹100,000, which can be converted into EMI ranging from 3 to 12 months. Customers can shop at over two lakh merchant stores associated with Mswipe. Additionally, KreditBee aims to partner with over five lakh retail stores across India by the end of financial year 2022.

Festive season preparation

The partnership comes ahead of the festive season with Christmas and New Year’s approaching and will significantly benefit Mswipe’s partners too.

Madhusudan Ekambaram, Co-founder and CEO, KreditBee said, “We are delighted to have partnered with Mswipe to offer a distinctive financing option in the form of cardless EMI. We, at KreditBee, continue to strive to address customers’ credit needs by providing effective and convenient financing solutions. Considering the Indian consumers’ increased focus on ease and convenience in services, the idea is to have an integrated 360-degree checkout flow to render their transactions accessible and hassle-free. In our partnership with Mswipe, we plan to jointly extend effective credit solutions to a larger consumer base, including the underserved individuals.”

Ketan Patel, CEO, Mswipe added, “While BNPL offers customers the ability to make instant purchases even when they lack funds at that moment, it is also helping small businesses to increase footfalls which in turn boosts overall sales. EMI transactions on Mswipe terminals are 3x compared to last year, with merchants enjoying services at affordable rates on POS machines and pay by link. We are excited to partner with KreditBee as this partnership will help in improving the checkout process significantly and reduce the time taken to complete the purchase.”

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NBFC Agriwise Finserv partners Central Bank of India for agri loan disbursals

Banking & Finance

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Agriwise Finserv Limited, an agri-focussed NBFC, has entered into a co-lending agreement with Central Bank of India for agri-loan disbursal.

Cash credit for agri sector should be brought on par with other biz: SBI Ecowrap

The co-lending agreement will ensure that the farmer, agri and allied community get finance at affordable rates in a simple, transparent and speedy manner. The loan will be disbursed at a blended interest rate, as per the RBI directive on co-lending of loans, the company said in a statement.

Agriwise to enlarge portfolio

Kalpesh Ojha, Chief Financial Officer, Agriwise, said, “It is a matter of great pride and prestige to partner with Central Bank of India in our journey towards sustainable financial solutions in rural India. We are committed to enlarging our portfolio to under-served and un-served rural customer segments and increasing our offerings to our current customers. We wish to leverage partnerships that bring together our strength of reach and customer insights with the banks lower cost of funds. In parallel, our strong technology backbone is helping us capture unique customer insights to deliver our product and solutions in a seamless, transparent and fair manner.”

Bank of Baroda launches centralised agri-loans processing units

Central Bank of India focus

Rajeev Puri, Executive Director, Central Bank of India, said, “We are focussed on lending to the agriculture sector as priority sector lending is a key goal to empower our farmer community. With this tie-up, we wish to reach a larger and deeper set of customers in the rural and agri-sector. Agriwise, with its specialised knowledge and experience in dealing with agri and allied sectors, will enable us to serve a broader set of customers.”

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Drip Capital partners with SBM Bank India to empower MSME exporters

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Drip Capital, a fintech provider of cross border trade finance, has partnered with SBM Bank India to offer trade financing solutions — customised for small and medium-sized exporters in India.

With this partnership, MSME exporters will be able to avail collateral-free working capital at competitive rates.

Commenting on the collaboration, Pushkar Mukewar, co-Founder and CEO, Drip Capital, said in a statement, “By partnering with SBM Bank India, we aim to provide collateral-free working capital to MSME exporters through our invoice discounting facility. This association is an example of how fintech companies are eager to partner with banks and other financial institutions to grow collectively by using technology to its very core.”

Focus on MSMEs

Neeraj Sinha, Head – Retail and Consumer Banking, SBM Bank India, said, “The Indian MSME sector is one of the largest exporters in the country. With India being rapidly ascending onto the map of the global supply chain, the MSME sector is set to play a major role in the coming years. It is therefore critical to design and deliver #smartbanking solutions to this segment that offer accessibility, affordability, and adaptive to the ever-changing demands. Towards this, it is our pleasure to partner with Drip Capital. We are sure, together, our solutions will help the Indian MSMEs become more competitive and resourceful.”

Unlike traditional financial institutions, Drip Capital leverages data analytics and technology to underwrite its transactions, allowing it to scale rapidly and provide a seamless financing experience to small businesses.

In the past, Drip Capital has partnered with several local and international banks to offer its financing solutions to SMEs in developing markets like India and Mexico as well as the US. Since its inception in 2016, the company has worked with over 1,500 sellers and buyers spread across 80+ countries.

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