By Mugdha Variyar

Global payments company PayU, in partnership with German fintech company Kreditech, has launched a lending product in India that offers cardless EMIs up to Rs 1 lakh for online purchases.

The product, PayU Monedo, is already live on a few ecommerce sites in the beta phase, Alexander Graubner-Müller, chief executive of Kreditech, told ET. PayU had invested $120 million in Kreditech last year.

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