Maitreya Capital and Business Services Pvt. Ltd.
Mumbai, Maharashtra, India:
Maitreya Capital & Business Services Pvt. Ltd. (Maitreya), one of many pioneering MSME-focused NBFCs, has sought to develop enhanced capabilities to proceed providing related options to MSMEs in a post-covid setting the place digital options and new underwriting strategies have develop into the usual.
Maitreya has acquired a 50% share in Paythrough Softwares and Solutions Pvt. Ltd. (Paythrough), the corporate which has developed the ‘Nagad Neo-Banking Platform’ for enabling smaller communities with a complete MSME answer.
A service provider with a Nagad account in Chapra, Bihar, will now get the next advantages:
1. 0% MDR on all Nagad Customer funds, UPI funds, and many others.
2. Instant Settlements, Free Devices, and QR codes assist them serve extra shoppers.
3. Cash-back on bulk purchases, together with purchases of inventories.
4. Loans for working capital up to Rs. 20 lacs.
The partnership with Maitreya facilitates the growth of Paythrough’s agent community and, subsequently, its funds business.
Shiv Narayan Pandey, a service provider primarily based in Barwaada Village, District Dhanbad (Jharkhand), says:
“Before the availability of the Nagad Merchant Program, my store’s only source of revenue was the sale of everyday groceries, which was not enough to support my family. As a result, I looked for methods to increase my sales.
I was informed about the Nagad Program and the cash-back option at the Merchant location. By linking my firm to UPI and QR codes, the Nagad Merchant programme helped my enterprise digitally.
I now attract more clients with the cash-back programme and digital transactions. Our revenue has grown as a result of customer’s ability to pay their bills alongside their grocery purchases. The convenience of Nagad has revolutionised modest Kirana businesses, and customers are happy. I’ve also applied for a credit line, which I’ll use to acquire further stock for my store.”
Paythrough’s strategic collaboration has additionally bolstered Maitreya’s senior administration crew with experience in know-how, rural advertising and marketing, and agri-allied financing sectors. Maitreya intends to actively examine the feasibility of sourcing “Priority Sector Loans” for a lot of banks utilizing a BC mannequin or co-lending association. The deliberate initiative to set up a technological platform for FPOs (Farmer Producer Organisations) represents one other step in this route. With these strikes, Maitreya could have a wholesome stability of fund-based and fee-based operations whereas sustaining its main emphasis on monetary inclusion.
Maitreya is an NBFC created in 2015 by 4 monetary specialists, every with virtually 30 years of expertise at firms like ICICI Bank, HDFC Bank, Citibank, IDFC, and many others. Since its founding, it has focused on financing micro companies and self-employed people. Its present portfolio is generally dealt with through its department community in the higher Mumbai and Pune areas.
About Paythrough Softwares and Solutions Pvt. Ltd. (Paythrough)
Paythrough is a know-how and monetary providers supplier with 10,000+ Agent places delivering Cash deposits, Withdrawals, and Bill Collection in partnership with RBL Bank and Equitas Bank. Paythrough selects forward-thinking villagers and equips them with the “Paythrough Digital Financial Kit” to supply important banking providers in distant areas. The Paythrough agent community is extensively dispersed all through three states: Bihar, Jharkhand, and West Bengal.
About Nagad Program and Its Benefits
Nagad is a membership program for purchasers and retailers in Tier-2 to Tier-4 cities. It presents Neo-Banking providers to clients and retailers, which incorporates banking, funds, credit score line and cash-back to its members.
Member Customer Benefits:
1. About 10% money again on purchases. This covers groceries, sweets, workplace provides, medication, clothes, lodges, eating places, diagnostic centres, nursing properties, and hospitals.
2. Discounts on their on-line purchases from retailers like Amazon, Flipkart, Myntra, OTT platforms, Travel, Ticket Bookings, and many others.
3. A debit-cum-credit card with immediate credit score is offered for up to Rs. 5,000 by default for his or her use which is repaid in 30 Days at 0% costs. In addition, consumers will get a ‘Buy Now Pay Later’ (BNPL) facility for costly purchases.
4. Online cost strategies equivalent to QR codes and financial institution account-linked UPI transfers. With this, clients might pay their payments, recharge their cell phones/DTH, repay their loans, pay faculty/school charges, and pay their FasTag tolls.
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