New Delhi: Smartphone manufacturer Realme has launched Realme Paysa in the competition of Google Pay and Mi Credit in the Indian market. It will be made available on Android phones in a few months. Currently, only users who use the beta version can download it. It has been made available on the beta version of the Google Play Store. It will be pre-installed in Realme devices.
Realme Paysa is just like Xiaomi’s Mi Credit service. Financial services will be made available for saving and protection, payments etc. The company has said that this service will be activated with some features. The company has assured that all the transaction data will be stored in India. To make it user-friendly, Paysa app will be made available with Human Custer Service, which will allow users to chat in English and Hinglish. This customer service will be available for 16 hours a day and seven days a day.
These features are available in Realme Paysa Beta version:
Free Credit Report: This app will generate free credit report. The first three reports will be absolutely free. After this, users will have to pay a charge. This report will be generated in partnership with CreditMantri.
Personal loan: It will provide digital loan. This loan will be a minimum of Rs 8,000. At the same time, loans up to 1 lakh can be taken. The company has said that this loan will be transferred to the user’s account in 5 minutes. Its repair tenure will be from 3 months to 12 months. The loan will be given in partnership with EarlySalary.
Screen Insurance: People from whom their phone display is broken, screen insurance is offered through Paysa. This application and claim will be given in partnership with ICICI Lombard.
Business Loans: Realme Paysa will provide loans for small businesses. This loan will be from Rs 50,000 to Rs 5 lakh. This LAN will be provided with digitally and flexible tenures. For this, the company has partnered with Lendingkart.