Google Pay UPI: The well-known digital payments platform Google Pay has expanded its offering to include Small and Sahaj Loans. The purpose of launching this facility is to give small merchants financial support so they may grow their businesses.
Some Important Points
- Minimum loan amount: 15000
- Initial EMI: 111
- Affiliates: DMI Finance, ePaylater, ICICI Bank, Axis Bank
- Availability: Google Pay App
What is Sachet loans?
Small, short-term loans known as “sachet loans” are typically provided to address urgent financial requirements. These extremely little monthly installments guarantee that businesses won’t be burdened further.
Partnerships with Leading Indian Banks and Institutions to Offer Financial Support
Associated financial institutions and banks For this new project, Google Pay has agreements in place with numerous significant Indian banks and financial organisations. Financial support will be provided through sachet loans and credit line services by institutions such as ePaylater and DMI Finance.
Concept of Google Pay
Users can use their Android devices to pay for purchases both online and in physical stores, as well as on websites, mobile applications, and Google services like the Google Play Store. To make transactions for in-store or online purchases, users link credit or debit cards to their Google Pay accounts.