SMFG India Credit and Google Pay Partner for Instant Collateral-Free Personal Loans

• SMFG India Credit (SMICC) has partnered with Google Pay to offer collateral-free personal loans to millions of users.
• Eligible Google Pay users can apply for loans directly within the app, with approvals and disbursals completed in minutes through a fully digital process.
• The collaboration aims to expand formal credit access through digital channels, leveraging Google Pay's vast user base to scale SMFG India Credit's personal loan portfolio.
• This initiative supports financial inclusion by providing easier access to short-term credit for underserved customers, aligning with SMFG India Credit's strategy of technology-driven underwriting.
• The partnership highlights the growing role of large consumer technology platforms like Google Pay as key distribution channels for financial products in India.

Why It Matters: SMFG India Credit and Google Pay collaborate to provide instant, collateral-free digital personal loans, boosting financial inclusion.