South Korean tech giant Samsung on Tuesday announced its partnership with Paisabazaar.com, an online marketplace for financial products in India.

Paisabazaar.com will now support Samsung Pay to provide users with a one stop solution to their financial requirements.

"Users can apply for credit cards and personal loans from the platform. The move will enable existing and potential users to get the benefit of opting for a host of financial services," the company said in a statement.

The feature uses advanced predictive algorithms to provide the most suited lender to customers and significantly improve their chances of loan approval, the company claims.

"Samsung Pay has been designed to be the smartest and most convenient method to make digital payments almost everywhere. Our partnership with Paisabazaar.com has helped us create a holistic platform that gives them the comfort of opting for various financial products besides using it as a payment platform," said Sanjay Razdan, Senior Director-Services Manangement, Samsung India.

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Naveen Kukreja, CEO and Co-founder, Paisabazaar.com., said: "Paisabazaar's integration with Samsung Pay is a natural fit as it will provide users with a platform that is equipped to give them a variety of quick financial solutions. Our seamless, transparent and end-to-end assistance, combined with industry first 'chance of approval' feature will significantly help customers in getting quicker approvals and disbursals." (IANS)