DMI Finance partners Google Pay to offer loans to digital wallet’s users

DMI Finance, a credit platform, announced the launch of a personal loan product on Google Pay to offer credit to pre-qualified users of the digital wallet platform.

According to the company, eligible users are pre-qualified using criteria set by DMI Finance and the product offer will be made available to them via Google Pay. These users will have their application processed in real-time with access to the money in their bank accounts, the company said.

The program aims to disburse up to ₹1 lakh per loan, which would be repayable over a maximum of 36 months. This partnership is being launched across 15K+ pin codes.

Shivashish Chatterjee, co-founder and joint MD, DMI Finance, said: “We are excited to make our personal loan product available on Google Pay in India. At DMI, we focus on working with truly world-class collaborators to leverage our combined strengths to deliver the best possible digital credit experience to a rapidly growing customer set. Our teams have worked closely together to bring transparent and seamless credit to millions of Google Pay users. 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: “Simplified access to reliable credit is critical to economic revival as we emerge from the difficulties posed by the pandemic, and experiences that can make this available to them within a few taps on their mobile phones will offer incredible convenience. 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.”