The country witnessed the launch of the Realme PaySa financial services platform. Realme PaySa is designed to offer a personal loan between Rs. 8000 and Rs.1 lakh to individuals in the country. Realme PaySa is powered by Oppo-owned fintech start-up FinShell. Realme has entered a partnership with the company such as EarlySalary and LendingKart. It is as an answer to Xiaomi’s, Mi Credit that Realme PaySa has been launched in the country.
Realme PaySa, claimed as India’s first full-stack financial services platform deserves mention. It is designed to ease transactions for both individual users and small as well as medium enterprises (SMEs) in the country. The Chinese company has partnered with Oppo-owned fintech start-up FinShell to allow a range of financial services through the Realme PaySa platform. Besides, an Android app of Realme PaySa has been introduced having features such as free credit reports, insurance, and personal loans. Whether it is payments or investments Realme PaySa app will provide all transaction options along with protection. They aim to enable customers to ease financial services. Realme PaySa proposes to ease transactions for both individual users and small and medium enterprises in the country. Realme PaySa will offer services lending, savings and protection, and payments.
So that Realme can get deeper into the market, it aims at providing its native platform to SMEs. This is different from the Mi Credit platform that is so far limited to end consumers. They aim to be the first mobile phone company to offer financial services to both individuals and SMEs. Small businesses are a significant part of the Indian economy as the company understands pretty well. The company’s website informs that it has partnered with CreditMantri to offer credit reports via its new platform. An option is also available to apply for a personal loan that ranges from Rs. 8000 to 1 lakh-powered by EarlySalary, a lending platform having a base in Pune. Additionally, Realme has partnered with ICICI Lombard General Insurance to facilitate mobile screen protection. Businesses can also avail loans ranging from Rs.50,000 and Rs. 20 lakhs making use of its new platform via LendingKart.
Financial services can also be availed by individuals or enterprises by this platform. The company wants to strongly counter Xiaomi that already planned to cover more than 90,000 pin codes in India. The company is also projecting to expand its footprint in the financial services sector as the new platform expands soon.
