The digital payment ducks all got into a row in 2017. Starting with demonetisation in November 2016 to the government getting into the payments space (BHIM) to zero commissions for digital transactions to the entry of international giants like Google and Facebook (WhatsApp’s entry is imminent) into payments, the ducks were all in a row.
Pssst, do you want a loan with those fries?
The explosion in digital payments during 2017 set the foundation for what comes next in 2018—loans
Consumer lending is a huge opportunity, but Indian consumer lenders have not yet found their mojo
As payments gain momentum, it leaves a trail of data that can help lenders make improved credit decisions
Two of their biggest problems—KYC to give out loans and collection of loans—will ease out in 2018
But investors are skeptical as they don’t see fintech lenders having an edge over the incumbents