Paytm, a digital payments company has rolled out a credit score check facility for user of its mobile app. The new service can be accessed under the user profile section by clicking on 'My credit score' tab.
Users availing the facility will be provided with a detailed credit report that will give information in respect of credit usage as well as repayment history depending on the age of the credit accounts, said Paytm.
The report thus will be a kind of a snapshot of all of the customer's existing loan accounts and active credit cards. Also, there will be information on steps to improve one's credit score etc.
The new facility by Paytm has been launched taking cues from Alibaba Group affiliate, Ant Financial, which launched a similar service referred as Sesame Credit in January 2015. The service offered credit scores for both individual customers and small business owners.
The company added that using the facility, users will be able to know their individual credit scores based on which credit card approval as well as loan disbursal is done by financial institutions.
Also, based on the credit score, Paytm app users will be eligible for offers like Paytm Postpaid that provides credit of up to Rs. 30,000 per month.