MobiKwik, India’s largest digital credit platform, today announced a strategic partnership with Home Credit India, a local arm of international consumer credit provider Home Credit Group with operations spanning 9 countries across Europe and Asia to launch “Home Credit Money”. A mobile app-based wallet, Home Credit Money offers an integrated, end-to-end digital experience for its customers for their everyday payments and borrowing needs.
MobiKwik partnership with Home Credit India
is purely digital and on par with the changing consumption habits of India’s budding young population. Built with the vision of creating a digital credit card for 100 million Indians, MobiKwik believes that the form factor to deliver the credit opportunity in India will be digital, not a physical card.
The app is developed with all of our users’ payment use cases in mind, such as e-commerce payments, QR payments, bill payments, and money transfers. The app allows users to transact between major e-commerce brands, over 3 million brick-and-mortar retailers and over 300 billers
allows users to avail an instant interest-free loan
ranging from Rs 1,500 to Rs 10,000 directly in their wallet. This simple and easy online journey without physical documentation is available to existing Home Credit customers along with the benefits of a mobile wallet like instant cashback and super cash, deals and market offers. In addition, customers can also avail personal loans of up to Rs 2,40,000.
Speaking on the combination, Mr. Marko Carevic, Director of Marketing and Customer Experience, Home Credit India said;
“At Home Credit, our goal is to empower our customers by providing them with credit facilities that fit seamlessly into their buying journeys. Based on customer focus, we believe that our partnership with MobiKwik is an important step towards engagement and customer experience to a new level. With MobiKwik’s robust ecosystem and ability to keep customers engaged with its vast network of merchants, we hope to create many more unique and personalized products for meet the unmet financial needs of millions of customers in India.
Home Credit India customers will be made aware of the importance of going digital and the partnership will serve as their digital support during these trying times. The company is committed to driving credit penetration and expanding financial inclusion through responsible lending.
Commenting on the partnership, Upasana Taku, co-founder and COO of MobiKwik
said, Mobikwik is committed to providing digital credit to the next 100 million Indians and our partnership with Home Credit helps us do just that. We believe that a digital wallet is the most suitable platform for distributing small loans to users, as they can easily collect the money without any documentation issues. By tying a line of credit to the user’s mobile wallet, we create a virtuous circle of consumers using digital credit and digital payments for their everyday purchases. »