Paytm has expanded Paytm Postpaid facility to offline retail outlets and neighborhood kirana shops.

Paytm ties up with Non-bank financial institutions (NBFCs) to use past-transaction data to assign credit limits for loans for daily purchases of grocery, retail goods.

Credit and Finance for MSMEs: Digital lending platforms with the principles of financial inclusivity will emerge as the heroes of the financial crisis.

Digital payments saw a revival in May, after the government granted some relaxation during the third and fourth phases of the lockdown.

Through informal communications, many banks have conveyed to NBFCs and micro lenders that they aren’t in favor of extending the moratorium, said at least three NBFC industry officials.

Payment companies have reported a surge in digital transactions for buying essential goods since the lockdown began, and more and more fintechs are now working with mom-and-pop stores to enable them to transact digitally.

A number of people who were earlier used to paying their utility bills in cash may have shifted to the digital channels during the lockdown, they added.

Digital lenders are seeking guidelines for full digitization and allowing eKYC and eSign mandates.

Going forward, it is critical for India to build an accessible, inclusive and resilient payment system that can withstand sustained shocks in the aftermath of the COVID-19 crisis.