Never miss a story

Get subscribed to our newsletter


×
According to Realme, there would be more tie-ups as the platform expands. Wikimedia Commons

Taking Xiaomi head on along with an aim to become a leading digital payments provider, Chinese smartphone maker Realme on Tuesday announced its foray into the burgeoning financial services sector with “PaySa” platform while evaluating its own digital payments mobile platform next year.

The company aims to acquire 25 million customers in the next two years.


Realme PaySa aims to serve individuals and small and medium enterprises (SMEs) in both metros and tier II and III cities. It offers digital personal loan up to Rs 1 lakh and digital SME loans up to Rs 5 lakh.

“We aim to repeat our success in the mobile business and become one of the top 5 new entrants in financial services in the next two-three years. We are evaluating the launch of mobile phone financing and payments in 2020,” Sheth said in a statement.

In 2020, the platform aims to disburse loans of approximately 1000 crore, acquire three to five million new customers, launch multiple new products and take its first step in financial services in India.

The app, available on both Google Play Store and realme App store, will have four businesses across lending, savings, payment and protection.

The beta launch of the platform has been done and a full roll-out is expected in the next six to 12 months.


Taking Xiaomi head on along with an aim to become a leading digital payments provider, Chinese smartphone maker Realme on Tuesday announced its foray into the burgeoning financial services sector with “PaySa” platform while evaluating its own digital payments mobile platform next year. Pixabay

“Larger loan requirements for both individuals and SMEs are serviced by the ‘realme PaySa’ teams present in different cities.

The brand has entered into strategic co-development partnerships with Early Salary (for digital personal loans), Lending Kart (for digital business loans) and Credit Mantri (for free credit report).

According to Tarun Pathak, Associate Director at Counterpoint Research, it is a good attempt but it will be part of larger ecosystem-level approach for Realme.

“Realme has a good installed base in India which the brand will look to monetize sooner or later. Fintech segment is important to crack as smartphone ASP in India is increasing,” Pathak told IANS.

“Aspirational value for flagships run high so bridging the gap between aspirational and affordability in India is a good business opportunity,” he added.


PaySa by Realme aims to serve individuals and small and medium enterprises (SMEs) in both metros and tier II and III cities. It offers digital personal loan up to Rs 1 lakh and digital SME loans up to Rs 5 lakh. Wikimedia Commons

According to Realme, there would be more tie-ups as the platform expands.

ALSO READ: Here are Tips to Combat Problems that Damage Hair

“We aim to acquire 25 million customers in the next two years by making mainstream financial products accessible to consumers in emerging India. We plan to win by bringing innovation in our OS and hardware to simplify access, co-develop products with partners and develop products that are easy to use,” said Varun Sridhar, Lead, Realme PaySa. (IANS)


Popular

VOA

This image released by Disney Theatrical Productions shows, from second left, Michael James Scott as Genie, Michael Maliakel as Aladdin, and Shoba Narayan as Jasmine after a performance of the Broadway musical "Aladdin" in New York on Sept. 28, 2021

As kids growing up in different states, Shoba Narayan and Michael Maliakel shared a love of one favorite film — "Aladdin." Both are of Indian descent, and in the animated movie, they saw people who looked like them.

That shared love has gone full-circle this month as Narayan and Maliakel lead the Broadway company of the musical "Aladdin" out of the pandemic, playing Princess Jasmine and the hero from the title, respectively.

Keep Reading Show less
VOA

Bottles of Jack Daniel's whiskeys are displayed at Rossi's Deli in San Francisco

Jack Daniel's is the world's most popular whiskey brand, but until recently, few people knew the liquor was created by Nathan "Nearest" Green, an enslaved Black man who mentored Daniel.

"We've always known," says Debbie Staples, a great-great-granddaughter of Green's who heard the story from her grandmother. … "He made the whiskey, and he taught Jack Daniel. And people didn't believe it … it's hurtful. I don't know if it was because he was a Black man."

Keep Reading Show less
Photo by Aksh yadav on Unsplash

Cricket fans can now book the ultimate experience with the official accommodation booking partner for the ICC Men's T20 World Cup

Cricket fans can now book the ultimate experience with the official accommodation booking partner for the ICC Men's T20 World Cup, Booking.com. The T20 Pavillion, a bespoke cricket-themed luxury stay that transforms the Presidential Suite at Grand Hyatt Mumbai Hotel and Residences into a classic cricket stadium.


The suite offers guests an all-inclusive once-in-a-lifetime experience during the India vs Pakistan ICC Men's T20 World Cup match on October 24, 2021, packed with quirks and luxuries that is sure to satisfy even the biggest cricket enthusiast. Additionally, as a part of the experience, guests will also have the exclusive opportunity to meet Bollywood actor Shraddha Kapoor at The T20 Pavilion.

Keep reading... Show less