Indifi Technologies And PayU Address Weekend Working Capital Woes With Their Product “Early Credit”

Gaining significant traction since its launch, the product aims to address the working capital issues faced by vendors, especially during weekends, due to lack of short-term credit options in the market.

National, November 25, 2020: Festivals are the peak time when businesses experience a tremendous spike in sales. However, not every player has access to sufficient funds essential for addressing numerous challenges associated with the efficient management of working capital. This is where the latest innovation developed by Indifi and promoted through their partnership with PayU, India’s leading online payments solutions provider, comes into the picture. 

Businesses witness high growth in sales, especially over the weekends. But due to the fact that payment settlements don’t occur during this period, most merchants remain out of cash for 3-4 days (mainly Friday-Monday), making it difficult for them to make payments to concerned people - suppliers, manufacturers, or staff - and meet other fixed expenses, too. 

The early credit product is a short-term credit solution designed to address this particular need. It is a short-term fund that small merchants can avail and is credited to their account every Friday based on the anticipation of the previous weekend sales. PayU’s 4.5 lakh merchants can avail credit amount starting from Rs. 25k up till Rs 50Lacs.  Once credited, these merchants can ensure that all their weekend operations are managed without any hassle. PayU will processes and facilitate transactions for this 100% contactless and digital solution. 

Apart from managing operations during the weekend, the latest early credit product can also be used during bank holidays when businesses don’t get paid, causing further delay in their operations. Not only is it providing a fillip to them during these pressing times, but it is also helping them maximize sales by improving their cash flows. The innovative product has gained significant traction since its recent launch, with 20% of merchants already leveraging it for running their businesses seamlessly. 

Alok Mittal, CEO, and Co-founder, Indifi Technologies, said, “The core objective behind this product is to accelerate the revival process of small and medium businesses while also boosting their sales during weekends, without worrying about payment delays, even during holidays. The disruptive solution will further act as a robust support system for merchants to ensure smooth sailing to their sluggish operations without any shortage of credit. The new development is already working as a game-changer for businesses and we are sure that it will help them drive more sales in the coming months.”

Noopur Chaturvedi, Country Head - SMB Businesses, PayU India, PayU India, said, “Working capital and credit has traditionally been a constraint for small and medium businesses as they are often unable to access formal channels for loans. The pandemic has only exacerbated the issue. Working with Indifi, we will offer our merchants seamless digital credit solutions to tackle a major issue in their day to day operations and to help stimulate growth.” 

Indifi’s early credit solution, enables every business – be it small, medium, or large – can ensure operational continuity and continue to serve customers seamlessly, even during a crisis like the ongoing pandemic. 

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