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MySubhLife partners with PayWorld for credit to retail merchants
July 10, 2023
Embedded finance platform MyShubhLife has partnered with the fintech platform for retail merchants PayWorld to provide credit access to merchants for their working capital needs. The company said it will leverage the “vast retailer base” of PayWorld to provide merchants with flexible and affordable credit offerings. PayWorld network comprises of more than 10 lakh banking points spread throughout 720 districts and 28 states.
MyShubhLife’s technology platform uses data analytics and artificial intelligence (AI) to provide customized products to its clients based on their working capital requirements.
Monish Anand, CEO and Founder of MyShubhLife said, “The company has always focused on building a solid data-science-based platform to help speed up financial inclusion, thereby making credit more accessible”.
“Collaboration and innovation are essential to drive the democratization of credit. This collaboration will help us achieve our shared goal of making credit more easily accessible and frictionless to retail merchants who have historically found it hard to get credit. Small retailers have often been excluded from the formal financial system due to a lack of documentation and poor or no credit history,” he added.
MyShubhLife had recently partnered with companies like MobiKwik, Pine Labs, Easy Pay and Spice Money to offer credit to their large base of customers. Besides offering credit solutions, the company offers a range of sachet-sized financial products, such as SIPs, e-gold, insurance, bill payments, e-filing taxes etc.
Important Links:
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