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SMFG India Credit (SMICC) has entered into a strategic partnership with Google Pay to offer collateral-free personal loans to eligible users across India, strengthening access to formal credit through a fully digital lending experience. The collaboration enables Google Pay users to apply for personal loans directly within the app, with approvals and disbursals completed in minutes for eligible customers.
Under the partnership, SMFG India Credit will leverage Google Pay’s wide user base and digital infrastructure to deliver quick, secure and flexible loans, addressing a range of personal financial needs. The end-to-end digital process is designed to remove traditional barriers to borrowing, offering a seamless and hassle-free experience that aligns with the expectations of India’s increasingly digital-savvy consumers.
The initiative is aimed at advancing financial inclusion by extending formal credit to underserved and emerging customer segments that may have limited access to conventional lending channels. By combining SMFG India Credit’s lending expertise with Google Pay’s platform reach, the partnership seeks to make credit more accessible, transparent and efficient for millions of users nationwide.
The move also reinforces SMFG India Credit’s position in the fast-evolving digital lending ecosystem, where technology-led partnerships are playing a critical role in expanding scale and improving customer experience. As digital payments and app-based financial services continue to gain traction in India, collaborations such as this are becoming central to the growth strategies of non-banking financial companies (NBFCs).
Commenting on the partnership, Ajay Pareek, Chief Business Officer, SMFG India Credit, said the company remains focused on leveraging technology and strategic alliances to strengthen its digital lending capabilities. “As part of its long-term strategy, SMFG India Credit continues to enhance its leadership in the digital lending ecosystem by leveraging technology and forming partnerships with fintech platforms. These efforts reflect our focus on expanding reach, promoting financial empowerment, and supporting the nation’s vision of a digitally inclusive economy,” he said.
The partnership with Google Pay comes at a time when demand for instant, app-based credit solutions is rising, driven by increased smartphone penetration and the rapid adoption of digital payments. By offering collateral-free personal loans through a trusted payments platform, SMFG India Credit aims to play a larger role in meeting India’s growing need for accessible and responsible digital credit solutions.
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