Real Estate Credit India Finance Pvt. Ltd., one of India’s fastest growing non-bank financial companies (NBFC), has partnered with the country’s largest mobile payment and commerce platform, Paytm, to enable customers to pay their IMEs in a simple, simple and convenient way.
The merger with Paytm is in line with Home Credit India’s plans to promote transparent digital payment solutions and cashless transactions and to be a partner in the Government’s Digital India program.
As part of this partnership, Home Credit India customers can now repay loan installments securely by clicking on the Pay EMI link on Home Credit India website or by logging into the Paytm platform.
To facilitate a payment through Paytm’s gateway on Home Credit India website, the customer is required to enter their personal information along with the amount to be paid and the loan agreement ID. Payments are accepted by debit card, Paytm Wallet and net banking.
Commenting on the partnership, Milan Urbasek, COO, Home Credit India Finance, said: “The payments landscape in India is changing rapidly with the emergence of innovative and latest cashless payment solutions. Stimulated by developments in information and communication technologies, India is on the cusp of a digital payments revolution. The merger with Paytm is a step forward in this direction. “
By the end of July, nearly 200,000 loan repayment transactions had been completed through the Paytm app and gateway.
In recent years, the number of digital payments in India has shown an increasing trend. According to a report by Niti Aayog, the overall volume of digital payments grew by more than 55% in a 2016-17 fiscal year. The retail payments segment accounted for up to 98% to 99% of the total volume.
Home Credit India has been at the forefront of redefining the customer experience through innovative products and services. The company recently launched an innovative and one-of-a-kind online mini-loan across the country.
Aimed at customers who need a small loan to meet an urgent need or purchase a product that was on their shopping list, the Mini Cash Loan allows eligible applicants to borrow any amount ranging from Rs. 1,000 to Rs. 10,000. In May, Home Credit India launched a mobile app that gives clients on-the-go access to loan details, repayment schedule and information on the amount of loan owed.
Home Credit India offers in-store financing (direct point-of-sale cashless loans) to clients, especially first-time borrowers, who are planning to purchase durable consumer goods such as cell phones, home appliances , laptops / tablets, electronic products. It is Home Credit India’s effort to provide premium products, a unique service experience, and value for money to its customers.
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