The Chinese smartphone manufacturer Realme launched a new financial service platform called PaySa in India. The company first time launched its full stack financial services across lending, payments, savings and protection.
Speaking on the launch, Mr Madhav Sheth, CEO- realme India, said “realme Payसा, as the name suggests, has evolved out of a combination of Indian ethos & our relentless pursuit of making our customer’s life easier. We aim to repeat our success in the mobile business and become one of the top 5 new entrants in financial services in the next 2-3 years. We are evaluating the launch of mobile phone financing and payments in 2020.”
The smartphone brand Realme forayed into the financial services sector in India with the launch of Realme PaySa. With this launch the company will take on Xiaomi’s own financial service platform Mi Credit. The platform will serve in metros and tier 2 as well as 3 cities and will be offering solutions to both individuals and SMEs
The PaySa app is available on both Google Playstore and Realme app store. The financial platform will be offering services such as lending, savings, payment and protection. Initially the company launch the beta service and the full roll put is expected in 6 to 12 months.
The freshly launched Realme PaySa app will be offering digital personal loans up to Rs 1 lac along with digital SME loans up to RS 5 lacs. The company will also be providing an instant free credit report, account level details and free updates for 3 months. The PaySa app will also be providing screen damage insurance for both old and new phones with an option of insuring 1 or 2 damages per year. The company has tied up other platforms such as Early Salary for digital Personal Loans, Lending Kart for digital Business Loans and Credit Mantri for Free Credit Report.
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