Realme Introduces App that Can Help Facilitate Business and Personal Loans

  • Recently introduced Mi financial services are limited to personal loans
  • Samsung’s finance facility is available on purchase of Samsung smartphones
  • Consumer Electronics firms collaborating with financial institutions has become the flavour of the season

Realme India has announced the launch of Realme X2 smartphone and Realme Buds Air here. While the two products seem important for the brand’s overall strategy, Realme has gone one step forward by introducing financial services in the country as well. It is to be noted here that Xiaomi, one of Realme’s biggest competitors, in the smartphone vertical, had recently introduced financial services app as well.

“We will now take the experience of Realme customers to the next level. Presenting the all new Realme PaySa app, India’s first full stack financial services platform on your favourite mobile phone,” read a recent tweet posted by Madhav Sheth, CEO, Realme Mobiles.

Business loans of up to Rs half a million

Unlike Mi Credit, which is limited to personal loans amounting to a maximum of Rs one lakh and Samsung Finance+, which only helps get smartphones financed, Realme will also be offering business loans of up to Rs five lakhs. “Through the Realme PaySa app micro and small businesses can get instant digital loan upto Rs five lakhs with minimum documents and a flexible repayment tenure from 12 to 60 months,” posted Madhav Sheth on Twitter.

The company will alo be helping consumers secure personal loans of up to Rs one lakh through the same app. “Brands understand that staying at the top now requires to go beyond the conventional methods of doing business. Be it a brand from China, India, Japan or Korea, consumers now prefer ones that value their experience. This battle of value-added services is going to get stiffer in the future. Moreover, we might see more brands following Xiaomi and Samsung suite in 2020,” Himanshu Jain, senior analyst, International Data Corporation (IDC), India, has told EFY Group recently.

Realme X2 launched in three variants

The company has also launched Realme X2 smartphone and Realme Buds Air in India. Realme X2 has been launched in three variants at prices starting from Rs 16,999. The company will be retailing the Buds Air for Rs 3,999 here.