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MobiKwik partners with Home Credit India to launch ‘Home Credit Money’

Shreoshree Chakrabarty January 29, 2021
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A local arm of the international consumer finance provider Home Credit GroupHome Credit India, Home Credit India and digital credit platform, MobiKwik has announced a strategic partnership to launch ‘Home Credit Money’. Providing integrated end-to-end digital experience to its customers, Home Credit Money is a mobile application-based wallet that can be used for their daily life payments and borrowing needs.

The partnership of Home Credit India and MobiKwik is at par with the changing spending habits of the young Indian population and purely digital. MobiKwik is built with the vision to build a Digital Credit Card for 100 Million Indians and it further believes in the form factor for delivering on the India Credit opportunity is going to be Digital, and not a physical card.

All payment use cases of the users such as QR payments, eCommerce Payments, Money Transfer and Bill payments are kept in mind while developing the app. This app gives the facility of transaction to users across 300+ billers, top eCommerce brands and the3 million+ physical retailers.

Users can get instant interest-free loan directly into their Home Credit Money wallet ranging from Rs 1,500 to Rs 10,000 through Home Credit money. Existing customers of Home Credit can avail this simple and easy online journey with no physical documentation along with the benefits of a mobile wallet like instant cashback and super cash, marketplace offers and deals. Personal loans of upto Rs 2,40,000 can be availed by the customers.

Mr. Marko Carevic, Chief Marketing and Customer Experience Officer, Home Credit India said, “At Home Credit, our goal is to empower our customers by offering credit facilities that are seamlessly integrated with their purchase journeys. Built on customer-centricity, 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 unmet financial needs of millions of customers in India.”

During these challenging times, the partnership will act as a digital support to the Home Credit India customers and they will be made aware about the importance of going digital. Through responsible lending, the company is committed to drive credit penetration and broaden financial inclusion.

Upasana Taku, Co-founder & COO of MobiKwik commented, Mobikwik is committed to deliver credit digitally to the next 100 Million Indians and our partnership with Home Credit helps us in doing so. 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.”

 

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