MSME Focussed NBFC Maitreya Capital Invests in Tech-Based Banking and Payments Services Provider Paythrough to Serve Rural Areas
Maitreya Capital & Business Services Pvt. Ltd. (Maitreya), one of the pioneering MSME-focused NBFCs, has sought to develop enhanced capabilities to continue offering relevant solutions to MSMEs in a post-covid environment where digital solutions and new underwriting methods have become the standard. Maitreya has acquired a 50% share in Paythrough Softwares and Solutions Pvt. Ltd. (Paythrough), the company which has developed the ‘Nagad Neo-Banking Platform’ for enabling smaller communities with a comprehensive MSME solution.
A merchant with a Nagad account in Chapra, Bihar, will now get the following benefits:
- 0% MDR on all Nagad Customer payments, UPI payments, etc.
- Instant Settlements, Free Devices, and QR codes help them serve more clients.
- Cash-back on bulk purchases, including purchases of inventories.
- Loans for working capital up to Rs. 20 lacs.
The partnership with Maitreya facilitates the expansion of Paythrough’s agent network and, therefore, its payments business. Shiv Narayan Pandey, a merchant based in Barwaada Village, District Dhanbad (Jharkhand), says: “Before the availability of the Nagad Merchant Program, my store’s only source of revenue was the sale of everyday groceries, which was not enough to support my family. As a result, I looked for methods to increase my sales. I was informed about the Nagad Program and the cash-back option at the Merchant location. By linking my firm to UPI and QR codes, the Nagad Merchant programme helped my enterprise digitally. I now attract more clients with the cash-back programme and digital transactions. Our revenue has grown as a result of customer’s ability to pay their bills alongside their grocery purchases. The convenience of Nagad has revolutionised modest Kirana businesses, and customers are happy. I’ve also applied for a credit line, which I’ll use to acquire further stock for my store.” Paythrough’s strategic collaboration has also bolstered Maitreya’s senior management team with expertise in technology, rural marketing, and agri-allied financing sectors. Maitreya intends to actively investigate the feasibility of sourcing “Priority Sector Loans” for many banks using a BC model or co-lending arrangement. The planned initiative to establish a technological platform for FPOs (Farmer Producer Organisations) represents another step in this direction. With these moves, Maitreya will have a healthy balance of fund-based and fee-based operations while maintaining its primary emphasis on financial inclusion.