TechProcess to enable e-payment for Muthoot Finance loans

Muthoot Finance, one of India’s largest gold finance company said it has partnered with a Indian electronic payments company TechProcess Payment Services whereby their customers will be able to repay EMI’s through a digital platform.

The platform powered by powered by TechProcess will further enable Muthoot Finance to streamline its loan collection process and also help the company safeguard against potential revenue leakage threats, said the company.

K R Bijimon, Chief General Manager of Muthoot Finance Ltd said, “Tech Process’ Next Gen Digital Payments Platform is yet another initiative of the company to enhance our customers’ experience who are already using our WebPay platform for payment of interest and principal.”

“With this first of its kind tie up by any NBFC, Muthoot Finance Limited demonstrates its commitment to implement technology up gradations for the benefit of our customers who can pay their interest and principal dues on line at their own convenience even on holidays without visiting the branches.”, Bijimon added.

TechProcess’ Next Gen Digital payments platform is a comprehensive multi-mode payment platform which brings the choice in the palms of consumers.

It is interoperable with more than 185+payment modes including credit and debit card, net-banking e-wallets and the likes.

The platform is a single integration omni-channel payment solution compatible with online and mobile channels, the company added.

Kumar Karpe, CEO, TechProcess Payment Services Ltd said, “Our next generation digital payment platform Paynimo is precisely conceptualized to act as an enabler of convenience and innovation for an enhanced end-user experience. We are confident that our alliance with Muthoot Finance will usher in a new industry benchmark on customer-centric focus.”

TechProcess’s Paynimo platform will allow Muthoot Finance to achieve business objectives pertaining to better success rate, ability to process large number transactions, reconciliation, service support and competitive commercials.