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Xiaomi rolls out 'Mi Credit' for instant loans
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SME Times News Bureau | 25 May, 2018
Chinese handset maker Xiaomi on Thursday launched "Mi Credit" -- its new
service that acts as a platform for users to initiate instant financial
lending in India.
According to the company, "Mi Credit" is
currently available in partnership with KreditBee which is an instant
personal loan platform for "young professionals".
"Xiaomi
provides Internet services to give our users a complete mobile internet
experience and MIUI functions as an open platform for us to deliver our
wide range of Internet services like content, entertainment, financial
services and productivity tools," Manu Jain, Vice President, Xiaomi and
Managing Director, Xiaomi India, said in a statement.
The loan can be initiated in under 10 minutes with a simple KYC verification.
"'Mi
Credit' is a big step in bringing an important Internet service to
India and we trust that our users would be able to truly benefit as the
service becomes more sophisticated," Jain added.
Notably, "Mi
Credit" is the third value-added Internet service for Indian Mi Fans
after Mi Music and Mi Video which were announced in May, 2018.
Financial loan providers are listed on "Mi Credit" platform and Xiaomi users can log in to apply for quick loans. Currently, the service is available only for MIUI users where KreditBee is offering loans starting from Rs 1,000-Rs 1,00,000.
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