wordpress blog stats
Connect with us

Hi, what are you looking for?

CCAvenue partners with LendingKart for loans to merchants & users

  Payment gateway CCAvenue has partnered with online lending platform LendingKart to launch ‘CCAvenue Finance’. Merchants and consumers of CCAvenue can seek financial assistance through the new initiative, which Lendingkart claims to extend to over 1 lakh online merchants and 8 million checkout consumers. According to the company, the eligibility criteria for merchants will be clearly defined by CCAvenue along with the funding partners, upon request for loans. Merchants can soon avail customized financing based on their business category and requirement. For consumers of CCAvenue will extend pre-approved short-term loans at market interest rates. With this initiative, Checkout customers can apply and receive the sanctioned loan amount within a couple of hours straight into their Checkout accounts. IMPS service by CCAvenue: In March last year, CCAvenue enabled the Immediate Mobile Payment Service (IMPS) for merchant payments, which allows users to make real-time inter-bank payments via mobile phones. To use their IMPS service, users have to click on the IMPS as the payment option on the site or mobile site, enter their Mobile Money ID number (MMID), mobile number and the One Time Password (OTP) given to them by their bank. Lendingkart funding: Lendingkart had raised $10 million from various investors in July last year. At the time, it said it would use the funding for capacity building, its technology platform, adding to its team as well as for an AI big data scoring system. Founded by Harshvardhan Lunia and Mukul Sachan last year, the platform had also raised seed funding…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Amazon and Flipkart are opposing untested ex-ante regulations modeled according to the EU Digital Markets Act in India, saying the current system is already...

News

As per a report, Apple has been testing its own large language model (LLM) since last year but its technology remains behind the AI...

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ