By
Tricitynews
Chandigarh
12th July:- MobiKwik, one of India’s largest
digital financial services platform, today announced the launch of instant loan
of Rs. 5000 on its app, in partnership with Bajaj Finserv, India’s most
diversified NBFC. This is the first-of-its-kind of credit disbursal product, in
line with MobiKwik’s objective of providing easy and instant credit to millions
of Indians. This product is designed to target millions of new to credit (NTC)
customers as well as small business owners in the country. The amount credited
can be utilized by the app users for a variety of payments, including bill
payments, cab bills, as well as payments to offline and online merchants.
There is very high demand
for small credit products which can cater to immediate requirements of payments
for clearing bills, paying offline merchants for daily transactions like food,
grocery, as well as making other payments. MobiKwik strives to address this
problem with the launch of this breakthrough product, that offers a seamless
experience and enables instant disbursal of credit, in a matter of 10 seconds,
by following 3 simple steps on its app.
Speaking on the
announcement, Upasana Taku, Co-Founder and Director, MobiKwik, said that instant
credits for small ticket amounts is a huge untapped opportunity. With the
smartphone user base expected to grow by about 16% this year and the online
transacting user base growing by over 30% YoY, we believe that Insta Credit
will enable us to reach out to a new set of customers who did not have access
to credit till date. We have already pre-approved Rs. 3500 crores of loans for
millions of customers across the country. Credit is a billion-dollar
opportunity and we are working on rolling out similar products to cater to the
low ticket instant credit requirements, across a wide range of individual and
business users.
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