The agreement is aimed at offering retailers Pay Later, a credit facility developed in-house at Capital Float which helps SMEs to make vendor payments on time.
The small retailer segment (of over 15 million retailers) in India has traditionally been underserved by conventional financial institutions. Through this solution, Capital Float wants to help these businesses manage their inventory and cash flows.
Through this collaboration, Capital Float will expand its borrower base to newer SME segments. The company already provides finance to Wirecard agents in the Chennai area to start off with and intends to expand to other large cities over the next few months.
For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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