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Craft Silicon & PayU Partnered to Advance Digital Loan Repayment Solutions

Craft Silicon, PayU announce strategic tie-upCraft Silicon, a global financial software solution provider has entered into a strategic partnership with PayU, India’s online payment solutions provider to innovate and accelerate the digital loan repayment solutions for small finance banks, micro-lending institutions and Non Banking Financial Company (NBFC).

Key Info

  • The partnership focuses on redefining a secured digital payment platform.
  • The association offers a consolidated settlement across multiple apps and payment gateway.

About Partnership

i.The partnership will enable NBFCs, Micro Finance Institutions (MFIs), and small finance institutions to offer their customers easy loan repayment solutions on their own mobile applications or through consumer apps of their choice.

ii.Through this partnership more affordable and safe repayment options can be ensured. This will ensure healthier cash flows for small and microcredit institution sector.

Note

Through Bharat Bill Payment System (BBPS) and payment gateway integration with PayU, Craft Silicon has enabled loan repayment in a safe and convenient manner for retail consumers.

Recent Related News:

i.DBS Bank India partnered with Transport Corporation of India Limited (TCIL)to facilitate real time payments for truck drivers by DBS RAPID(Real Time Application Program Interface-APIs by DBS) solution to enable them to receive payments instantly.

ii.Axis Bank Ltd, Mastercard India & Worldline India partnered to launch a digital point-of-sale(POS)solution ‘Soft POS’, the 1st financial payments service in India to transform everyday smartphones into merchant POS terminals.

About Craft Silicon 
HeadOffice- Nairobi, Kenya
Founder and Chief Executive Officer(CEO)– Kamal Budhabhatti
CEO, Craft Silicon Asia- Siva Kumar

About PayU:
Headquarters– Netherlands
CEO– Laurent le Moal
CEO, India– Anirban Mukherjee