PayG comes at the rescue at this point by assuring quick processing and reimbursements. Recently, there's a spurt within the market participants, including Non-Banking Financial Companies (NBFCs), who have availed the license for providing payment wallet services under the governing laws and provisions. NBFCs are authorized to issue closed and semi-closed systems including mobile-based pre-paid instruments.
Now, payments for the NBFC sector is a bit different when compared to the payments of mutual funds and insurance. In NBFSc, the borrowed amounts are paid in small investments – so the NBFCs receive payment on a recurring basis.
PayG helps these NBFCs to automate loan disbursals and payment collection. Our solutions fit perfectly in your loan management systems of the NBFCs and you can have the benefit of advanced APIs and a spread of integrations and offer a superb user experience.
So, get ready to lend money and encourage more entrepreneurial ventures in India to introduce their innovative ideas and solve bigger problems. PayG is here to help you out with complete guidance and futuristic products.