CREDIT FAI₹

Credit Fair is trying to facilitate financial inclusion as
(1) About 550 million Indians are underserved by traditional lenders because they are new to credit (NTC) or do not have a prime credit score.
(2) Availability of credit at point of sale is currently enabled through credit cards, penetration of which is less than 4%
(3) Borrowers in remote areas are underserved by traditional banks due to high costs associated with their onboarding, management, and recovery.
Hence, there is a huge demand for formal credit that can be availed through simple processes.

On the other hand, merchants, who are majorly SMEs, struggle with providing point of sale financing options to their customers resulting in loss of potential sales. Since their operations are mostly based on cash transactions, leading to process inefficiencies and high transaction costs.