Page 20 - Banking Finance November 2021

PRESS RELEASE

PhonePe and NPCI Bharat BillPay Ltd. partner to launch ClickPay for

easy bill payments

PhonePe, India’s leading digital payments platform, announced the launch of ClickPay for its customers in association
with NPCI Bharat BillPay Ltd.(NBBL). ClickPay is a unique payment link that enables customers to make recurring online
bill payments (electricity, water, gas, loan, etc) and removes the need to remember tedious account details associated
with each biller/service. This link sent by the biller will lead the customer directly to the payment page fetching the bill
amount instantly.
PhonePe is one of the first payment platforms to enable support for ClickPay, and it benefits the customers by removing
the hassle of remembering the unique identifiers/details associated with making bill payments - they can simply pay by
clicking on the ClickPay link sent by their biller, making it only a two-step process. This launch will help in increasing the
share of digital transactions in the ecosystem by reducing the errors induced by manual inputs required for bill payments.
Speaking on the launch, Ankit Gaur, Director, Online Merchants at PhonePe, said “We are very excited to partner with
NPCI Bharat BillPay Ltd. on the launch of ClickPay. This will bring a large number of potential customers from the offline
realm to pay their bills online. We believe that this will further the adoption of digital payments by making the discovery
of billers and bill payments convenient for consumers.”
Rahul Tandon, Head Product & Market Development, NPCI Bharat BillPay Ltd., said “ClickPay is a step to empower the
customer, wherein with ease, payment can be effected sans the tedium of manual inputs and errors. We are happy to
launch the ClickPay facility with PhonePe and extend robust facilitation to a huge customer base. ClickPay will assure
faster payments and help with furthering of digital transactions in the payments service space.”

Indel Money Partners with IndusInd Bank for India's First

Conventional Gold Loan Co-lending Partnership
Indel Money, a non-banking finance company (NBFC) pioneering in gold loans, has entered into a first-of-its-kind
conventional gold loan co-lending partnership with IndusInd Bank to offer gold loans at competitive rates to a bigger
and diverse segment of borrowers.
Under the co-lending partnership agreement, Indel Money will originate and process gold loans based on mutually
formulated credit parameters and eligibility criteria. The company will service the customers through the entire lifecycle
of the loans including sourcing, documentation, collection and loan servicing.
IndusInd Bank will take into its book 80% of the gold loan generated by the co-lending arrangement while the remaining
20% will be funded by Indel Money. The NBFC will start the co-lending partnership with a pilot project in Sept 2021
before expanding it pan India.
The co-lending partnership will help both Indel Money and IndusInd Bank to enhance its gold loan portfolio across the
country by penetrating various market segments.

Mr. Umesh Mohanan, Executive Director and CEO, Indel Money said, "It's a pleasure to sign the co-lending agreement
with IndusInd Bank. The co-lending partnership places greater responsibility on us to excel in managing the gold loan
lifecycle and underscores the trust and value that the bank has on our expertise and technology capability to meet unsolved
credit needs of the underserved segments of borrowers. The partnership will help us serve an extensive range of customers
across geographies and ticket-size."

Mr. Srinivas Bonam, Head of Inclusive Banking Group, Induslnd Bank said, "We are pleased to partner with Indel Money
for extending gold loans. They have strong presence in the southern region with plan to expand across India. The
collaboration is in line with our philosophy and strategy to bring efficient and inclusive lending solution through
partnership."

20 | 2021 | NOVEMBER | BANKING FINANCE