Retailio partners with CreditVidya to introduce ‘Pay Later Loans’ in pharma sector

Retailio partners with CreditVidya to introduce ‘Pay Later Loans’ in pharma sector

B2B pharma marketplace giant Retailio has announced its alliance with CreditVidya’s financial services brand Prefr to empower retailers with credit facilities for transactions and making purchases on the platform. The prime focus of this partnership is to create a strong foundation for pharma retailers and provide them access to a medium that would regulate their capital requirements.

Prefr is CreditVidya’s embedded financial services platform and app that is set to transform the operations of small businesses in India, by giving them access to a range of embedded financial services.

Currently, it offers pay later loans to simplify supply chain finance, cash advance loans to extend working capital loans and term loans for self-employed

“Every other small business right now needs capital and we wish to empower our retailers by providing them the credit to grow their business. There are around 100,000+ active retailers on our platform ordering products every day. Our alliance with CreditVidya will open new business options through which we can address their capital issues and provide flexible solutions.” stated Rupesh Pathak, Retailio’s Director.

While talking about the partnership, “ Retailio is investing in technology to formalize the pharma retailers and distributors across India. We are excited to enable Retailio’s customer with our first product Pay Later Credit Line that simplify the capital needs using a combination of robust technology, proprietary credit model and a simplified user experience..” added Arun Amarnath, Head Financial Services (Prefr)

Lenders in India and across the world have been looking at ways of broadening the coverage of loans while keeping up good portfolio quality. The leading pharma platform Retailio made a coalition with CreditVidya to lessen the burden on retailers. It would not just save their time but additionally help them get rid of unnecessary paperwork.

Meanwhile, the partnership between CreditVidya and Retailio will empower access to credit facilities to over 100,000 retailers which will help them execute their business buys and will get custom-fitted credit solutions. CreditVidya has incorporated its total services into the requesting cycle of retailers on Retailio by embedding its Pay Later Credit Line, which will guarantee that the users avail credit during check out and never miss the mark concerning capital in purchasing items or developing their business.