NewsVoir | 10 Aug, 2017
Home Credit India Finance Pvt. Ltd., one of Indiaâs fastest growing non-banking financial company (NBFC), has partnered with the countryâs largest mobile payments and commerce platform Paytm to enable customers to pay their EMIs in an easy, simple and convenient manner. The tie-up with Paytm is in line with Home Credit Indiaâs plans of promoting seamless digital payments solutions and cashless transactions and be a partner in governmentâs Digital India programme.
Under the partnership, Home Credit India customers can now repay loan installments safely and securely by either clicking on the Pay EMI link of Home Credit India website or logging on to the Paytm platform. To facilitate a payment via Paytmâs gateway while on the Home Credit India website, the customer is required to enter personal details along with the amount to be paid and the loan contract ID. Payments are accepted through debit card, Paytm Wallet and net banking.
Commenting on the partnership, Milan Urbasek, Chief Operations Officer, Home Credit India Finance said, âThe payments landscape in India is changing rapidly with the emergence of innovative and latest cashless payment solutions. Spurred by developments in information and communication technology, India is at the cusp of a digital payments revolution. The tie-up with Paytm is a step forward in that direction.â
As of July end, nearly 200,000 loan repayment transactions have happened through the Paytm app and gateway.
Over the last few years, the number of digital payments in India has shown a rising trend. According to a report by Niti Aayog, the volume of overall digital payments increased by over 55 per cent in 2016-17 financial year. The retail payments segment accounted for as much as 98% to 99% of the total volume.
Home Credit India has been at the forefront of redefining customer experience through innovative products and services. The company recently launched an innovative and one of its kind online Mini Cash Loan across the country. Targeted at customers who require a small loan to fulfill an urgent need or buy a product that has been on their shopping list, the Mini Cash Loan enables eligible applicants to borrow any amount ranging from Rs. 1,000 to Rs. 10,000. In May, Home Credit India had launched a Mobile App that provides customers access on the go to his/her loan details, repayment schedule and information on the due loan amount.
Home Credit India offers in-store financing (direct non-cash loans in retail outlets) to customers, especially first-time borrowers, planning to buy consumer durable goods such as mobile phones, home appliances, laptop/tablets, electronic goods. It is Home Credit Indiaâs endeavor to provide top-of-the-class products, unique service experience and value for money to its customers.
About Home Credit India
Home Credit India Finance Pvt. Ltd. is a leading consumer finance provider that is committed to drive credit penetration and financial inclusion by offering financial solutions that are simple, transparent and accessible to all. One of Indiaâs leading Non-Banking Financial Companies (NBFCs), Home Credit India has its operations in 77 cities across 15 states in the country. The company has a strong network of over 10,000 Points-of-Sale (PoS) where it services over 3 million customers through an employee base of over 16,000 as of date. Home Credit India has been recognized by Aon Hewitt as a Regional AON Best Employer 2017 for employer excellence.
About Home Credit B.V.
Home Credit India is part of Home Credit B.V., an international consumer finance provider with operations in 11 countries where there is high potential to grow. Founded in 1997, we focus on responsible lending primarily to people with little or no credit history. Our services are simple, easy and fast. We operate in highly attractive markets with significant barriers to entry. We are a leading provider of consumer finance in selected countries. It is our experience and knowledge across the different markets, which sustainably puts us ahead of our competitors. We drive and broaden financial inclusion for the unbanked population by providing a positive and safe borrowing experience â the first for many of our customers. We promote higher living standards and meet borrowersâ financial needs. Our 135,500 employees have so far served over 76 million customers through the vast distribution network comprising 308,703 points of sale, loan offices, branches and post offices. HCBVâs total consolidated assets reached EUR 15.9 million as of March 31, 2017.
More information on HCBV is available at www.homecredit.net.
More information on Home Credit India is available at www.homecredit.co.in.
Paytm is Indiaâs largest mobile payment & commerce platform. With the current user base of more than 230 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and recently launched Payments Bank. Paytm is founded by Vijay Shekhar Sharma, and is the Consumer brand of Indiaâs leading mobile internet company One97 Communications. Paytm is headquartered in the National Capital Region, India. The companyâs investors include Ant Financial (Alipay), Alibaba Group, SoftBank, SAIF Partners and Mediatek.