MyShubhLife, will leverage the vast retailer base of PayWorld to provide merchants with flexible and affordable credit offerings.
BANGALORE, July 7 (The CONNECT) - MyShubhLife, one of India's largest embedded finance platforms, has announced its partnership with PayWorld, a fintech platform focusing on retail merchants across India.
Through its NBFC Ekagrata, MyShubhLife will provide PayWorld's retailers with easy access to credit for their working capital needs. Both MyShubhLife and PayWorld share the vision of widening access to financial and banking services nationwide.
Through its embedded technology, MyShubhLife will leverage the vast retailer base of PayWorld to provide merchants with flexible and affordable credit offerings that are easily accessible. This partnership will serve the entire PayWorld network, comprising over 10 lakh banking points spread throughout 720 districts and 28 states. This alliance is an opportunity for both companies to realize their shared goal of inclusive financial growth.
Monish Anand, CEO and Founder of MyShubhLife, said, "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. We are excited to be able to change that through this alliance with PayWorld.”
Amit Tyagi, CEO PayWorld, said, "Our mission is to bridge the financial divide between India and Bharat. While India complains of getting too many unsolicited calls for loans, a Bharat customer, despite being honest, hard-working, and capable, is denied credit owing to the absence of credit history, collateral, and access. With this partnership, our PayWorld Captains will be able to add wings to their growth dreams and will be able to serve their communities even better. Our vast network and robust services would act as a catalyst for MyShubhLife, helping them reach the remotest corner of India."
Besides offering credit solutions, MyShubhLife has built a complete range of sachet-sized financial products, such as SIPs, E-Gold, Insurance, Bill Payments, E-filing taxes etc., to provide more contextual offerings to its customers.