SMFG India Credit (SMICC) partnered with PhonePe to provide collateral-free Merchant Cash Advance loans.
Loans will be extended to PhonePe’s registered merchants, especially in Tier-2 and Tier-3 towns.
The tie-up strengthens SMICC’s presence in merchant cash advance lending.
For PhonePe, the collaboration boosts support for its merchant base with instant credit access.
NBFC firm SMFG India Credit (SMICC) on Tuesday said it has entered into a partnership with PhonePe to provide collateral-free credit to its merchants.
This alliance will enable SMFG India Credit to offer Merchant Cash Advance (MCA) loans to registered merchants on the PhonePe platform, many of whom are based in Tier-2 and Tier-3 towns across the country, a joint statement said.
This partnership will enable SMICC to further solidify its position as a market-leading lender in the merchant cash advance space, reinforcing its role as a key player in the digital lending ecosystem, it said.
For PhonePe, this collaboration deepens its commitment to its extensive merchant base by delivering instant, accessible credit solutions that fuel business expansion and support long-term growth, it said.
