Muthoot Finance Launches ‘Muthoot WebPay’

Muthoot Finance Ltd, India's largest gold loan company launched its new service “Muthoot WebPay”, wherein the gold loan customers of the company can now make payment of their loan interest online. To support this new initiative, Muthoot has partnered with IndusInd Bank Ltd & M/s Atom Technologies, the online payment services provider. IndusInd Bank Ltd will be the banking partner for this new initiative offered by Muthoot Finance.

Launching this new service today, Mr. K R Bijimon, Chief General Manager of Muthoot Finance Ltd, said that “The success mantra of Muthoot Finance has always been its focus on the convenience of the Customers. Minimal Documentation, quick loan disbursal, various loan schemes suiting the requirements of customers from different walks of life, best customer service etc. are some of the factors that have made us the market leader. Moving in step with the digital era where people find the ‘Online’ medium more convenient to make transactions & payments, we too have decided to offer such a facility to our Gold Loan customers. With “Muthoot WebPay”, our customers can now pay their loan interest online either using their Debit Card or Net Banking facility. We believe this facility will definitely delight our customers who often find it difficult, during their busy life schedules, to call at our branch and make periodic interest payments. Now they can make payment sitting at the comfort of their home, office or even while on the move.”

Speaking on this occasion, Mr Ramesh Ganesan, EVP & Head Transaction Banking at IndusInd Bank said “IndusInd Bank has been working with Muthoot for their various banking requirements. We provided an online collection solution for Muthoot, enabling them to collect & reconcile client payments, through our Payment Gateway partner, Atom Technologies.” 

Muthoot WebPay facility is available in the company's official website www.muthootfinance.com. where customers can register themselves and make payments. The company will bear the online charges for the payment on behalf of the customers. Customers will not be required to pay any additional charges online for using this facility.

About Muthoot Finance Ltd:

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio. The company is a “Systemically Important Non-deposit taking NBFC” head quartered in the southern Indian state of Kerala. Operating history of Muthoot Finance has evolved over a period of 75 years since M George Muthoot (the father of our Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887.

The company provides personal and business loans secured by gold jewellery. Gold Loans are primarily given to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all to meet unanticipated or other short-term liquidity requirements. 

The company is listed on both National Stock Exchange and Bombay Stock Exchange.