Heena Sharma Blog

  Flipkart-owned fintech platform PhonePe on Monday said it has crossed the 250 million registered user milestone. The company reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October, a statement said. "PhonePe had a record month in October, processing 925 million transactions - its highest so far - with an annual TPV (total payment volume) run rate of USD 277 billion. PhonePe also processed 835 million UPI transactions in October, for a market leading share of over 40 per cent," it added. Sameer Nigam, CEO and founder of PhonePe, said the company has set a target of crossing 500 million registered users by December 2022. "In line with our brand ethos of 'Karte Ja. Badhte Ja', we continue to launch new and innovative products for every strata of Indian society, as well as enable digital payment acceptance across every merchant in every village and town in India," he added. Read More

Chinese smartphone maker Oppo has made its debut in financial services space with Oppo Kash . The service is an app-based platform that comes with a bouquet of financial services, including mutual funds, systematic investment plans, screen insurance, and loans. The app, currently in beta stage, is available on Google Play Store and Oppo App Store for all supporting Android smartphones. “ Oppo has partnered with 20 asset management companies to offer bouquet of financial services, including SIPs and mutual funds. We aim to provide an end-to-end financial solution to around 10 million customers in next five years,” said Sumit Walia, Vice President – Product and Marketing, Oppo India. He added, “the Oppo Kash platform is built on three core values – small and easy, data privacy and customer security. The app, currently in beta stage, comes with 5 products – mutual funds, freedom SIPs, personal loans, business loans, screen insurance. The most unique offering from the Oppo Kash

Expanding its financial services portfolio, Chinese electronics maker Xiaomi on Tuesday announced the Mi Credit – an app-based credit lending service with a limit of up to Rs 1 lakh on personal loans. Being an online marketplace for lenders, the app debuts with support from five non-banking financial companies (NBFCs) and fintech firms — Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya. Apart from lending services, the company also partnered with Experian to provide credit score report free of cost on the Mi Credit app. According to Xiaomi, the Mi Credit service is currently available in more than 10 states, covering around 1,500 pin codes, and the company aims to roll our services across all pin codes by the end of this financial year (March 2020). The Mi Credit app is now available on Google Play Store, Xiaomi app store and GetApps platform for Android smartphones. Besides, it will come preloaded on the company’s MIUI operating system-powered