Digital credit platform, MobiKwik today announced a strategic partnership with Home Credit India, a local arm of the international consumer finance provider Home Credit Group with operations spanning 9 countries across Europe and Asia to launch ‘Home Credit Money’.
A mobile application-based wallet, Home Credit Money provides an integrated end-to-end digital experience to its customers for their daily life payments and borrowing needs.
MobiKwik’s partnership with Home Credit India is purely digital and at par with the changing spending habits of the aspiring young Indian population. Built with the vision to build a Digital Credit Card for 100 million Indians, MobiKwik believes the form factor for delivering on the India Credit opportunity is going to be Digital and not a physical card.
Speaking on the tie-up, Marko Carevic, Chief Marketing and Customer Experience Officer, Home Credit India said, “We believe that our partnership with MobiKwik is a significant step towards taking customer engagement and experience to a new level. With MobiKwik’s robust ecosystem, and capability to keep customers engaged with its large merchant network, we hope to create many more unique and customized products to address the unmet financial needs of millions of customers in India.”
The app is developed keeping in mind our users all payment use cases like eCommerce Payments, QR payments, Bill payments and Money Transfer. The app facilitates users to transact across top eCommerce brands, the 3 million+ physical retailers, and 300+ billers
Home Credit money enables users to avail instant interest-free loans ranging from Rs 1,500 to Rs 10,000 directly into their wallet. This simple and easy online journey with no physical documentation is available to existing customers of Home Credit along with the benefits of a mobile wallet like instant cashback and super cash, marketplace offers and deals. In addition, the customers can also avail personal loans of up to Rs 2,40,000.
Commenting on the partnership, Upasana Taku, Co-founder & COO of MobiKwik said, “We believe that a digital wallet is the most suited platform to distribute small-ticket loans to the users as they can easily avail the money with zero documentation hassles. By stitching a credit line to user’s mobile wallet we create a virtuous circle of Consumers using Digital Credit and Digital Payments for their daily shopping.”
Home Credit India customers will be made aware of the importance of going digital and the partnership will act as digital support to them during these challenging times. The company is committed to drive credit penetration and broaden financial inclusion through responsible lending.