New Delhi, Sep 11: PayMe, one of India’s fast growing homegrown fintech companies, today announced the launch of Credit Assist as a standalone app, an AI-powered platform, now decoupled from PayMe, that helps Indians understand, improve, and build their credit health from a single screen. . Available now on Android, Credit Assist moves credit management beyond the occasional score check and gives users a constant, AI driven companion for their financial reputation.
The launch arrives at a moment when India’s credit awareness gap is impossible to ignore. India’s formal retail credit penetration has grown rapidly, with the share of consumers accessing credit rising from 35 percent in 2017 to 74 percent by 2026. Yet overall credit depth remains low with credit penetration at just about 6 percent and a credit-to-GDP ratio of roughly 53 to 57 percent, leaving a massive lending gap across hundreds of millions of adults without an active credit history. According to TransUnion, only around 119 million Indians actively tracked their credit profiles as of March 2024, a small fraction of the country’s nearly one billion people eligible for credit, even as self-monitoring grew 51 percent over the previous year. Millions of people enter the formal credit system through loans, credit cards, and Buy Now Pay Later products without ever understanding how their score is calculated or what pulls it down. Credit Assist is built to close exactly that gap.
On the occasion of the launch, Mr. Mahesh Shukla, Founder and CEO, PayMe, said,
“Credit is now the gateway to opportunity in India, whether it is a home, a business, or an education, yet most people only discover their score when a loan gets rejected. We built Credit Assist to flip that. Instead of a number you check once a year and forget, it is an intelligent system that watches your credit for you, tells you in plain language what to do next, and stays with you until your score actually improves. This is financial happiness, made personal and made proactive.”
What sets Credit Assist apart is a stack of purpose built artificial intelligence working together on the user’s behalf. At its core is an Agentic AI Credit Manager that continuously monitors a user’s credit profile, flags emerging risks, and recommends corrective actions before small issues grow into score damaging problems. Real time nudges help users identify risks and potential defaults in time to act on them. Alongside it, a 24×7 AI assistant named Clio answers credit questions instantly and in everyday language, so users never have to decode financial jargon on their own. The app also delivers personalised video guidance drawn from expert content and tailored to each user’s actual credit behaviour rather than generic tips, along with instant access to a credit score, a full downloadable credit report, and a clear breakdown of the factors moving that score. To bring a user’s wider financial life into one view, Credit Assist further lets people manage bill payments, track assets, and organise the financial information that shapes their creditworthiness, and for those who prefer a human touch, personal guidance from credit experts sits alongside the AI.
Credit Assist sources data from credit bureaus licensed by the Reserve Bank of India giving users reliable, bureau-quality insight. Checking your own score through the app is treated as a soft inquiry and therefore has no impact on your credit score. All credit data is fetched only after the user gives explicit consent and is protected by encryption and reasonable security safeguards, and the app never asks for a net banking password or an OTP.
Getting started takes only a few minutes. Users download the app, sign up with their mobile number, and complete a quick verification, after which their score appears instantly on the home screen along with the factors affecting it and a personalised path to improve it. The app is designed for anyone who is new to credit to seasoned borrowers protecting and optimising an established score. Credit Assist is available now on the Google Play Store.