Via Thursday, Google India announced sachet loans via the GooglePay application to aid the nation’s small enterprises. According to GoogleIndia, Indian businesses frequently require smaller loans; as a result, the tech giant introduced sachet loans on the Gpay application. Google India noted that the company will offer loans to small enterprises for as little as 15,000 that can be repaid in easier installments as low as 111. A tech giant and DMI Finance have teamed to offer the loan services.
A brief about Google Pay will introduce sachet loans in India as it joins the retail credit market
In collaboration with ePayLater, Google Pay also made it possible for businesses to access a credit line, which helps them with their need for working capital. Merchants can use it to purchase their stock and supplies from any offline and online vendors.
In partnership with ICICI Bank, Google India introduced credit lines on UPI. By collaborating with Axis Bank, Google India also increased the selection of personal loans available through Google Pay.
Other initiatives for Indian small enterprises were also introduced by Google India. The dominant search engine said that “Google Merchant Center Next will automatically populate a merchant’s product feed with information detected from their website” thanks to artificial intelligence (AI). Additionally, the Google Merchant Center Next will provide businesses complete control over the content that is uploaded to their feed.
