Realme launched PaySa in India as Realme’s answer to Mi Credit. It is Claimed as India’s first full-stack financial services platform. Realme PaySa to designed to facilitate transactions for both the individual users and small and medium enterprises in India. The Chinese company has partnered with Oppo-owned fintech startup FinShell to enable a range of financial services through the Realme PaySa platform.
Realme announces finances services: Realme PaySa – an Android app of it Realme PaySa has also been introduced with features such as free credit reports, screen insurance, and personal loans.
What is Realme PaySa?
Realme Payसा is termed as India’s first full-stack financial services platform. The platform has been revealed in partnership with Oppo’s fintech arm FinShell (as seen in the featured image below). Realme launched Pay Sa for competing with rivals like Paytm, GPay, and PhonePe.
PaySa is offering screen insurance for new and old phones in partnership with ICICI Lombard and three free credit reports in collaboration with CreditMantri. It pulls info from Equifax, which I certainly ought to warn you about. In 2017, a widespread data leak was involved in.
CEO of Realme India, Madhav Sheth introduced the very Realme Pay Sa saying, “Realme PaySa app will provide all functions for payments and investments. Our goal is to empower app users to leap on to the financial services platform.”
Realme Launched PaySa
Talking about loans, Realme Launched PaySa application to offer personal loans ranging from Rs. 8,000 to Rs. 1 lakhs with a repayment of up to five years. You can also repay it as soon as within five months of loans. GoPro data scientist paysa On the other hand, Businesses can take a loan between Rs 50,000 and Rs 20 lakhs using the platform. Realme has partnered with EarlySalary and Lendingkart as its loan providers.
Realme Announces Finances Services: Realme PaySa
The company has launched the platform with only four essential products – free credit report, personal loans, business loans, and screen insurance. But this doesn’t make it full-stack. Yeah, Realme plans to introduce more financial services like mutual funds, digital Gold, and SIPs and more.
The Beta launch of #realmePaySa will feature 4 key products:
-Free Credit Report
Download your app from the Play Store or realme Store. pic.twitter.com/eCoiv1pudx
— Madhav ‘Super50w’ (@MadhavSheth1) December 17, 2019
Besides, the CEO on stage said that they’re “studying different mobile payment tools (UPI/PPI), mobile financing tools. And we’ll soon come up with a new [payment] solution.” It is similar to other payment platforms currently in the market. Realme further plans to add more financial tools for tax, budgeting, and different needs. Realme Announces Finances Services: Realme PaySa.
What is Realme PaySa actually? Realme PaySa is currently in beta version, and the Android app is available for users to try out on Google PlayStore. It can be downloaded/ installed on any Android phones and will be available on iOS very soon. Once the testing is finished, the app will be open to everyone. Moreover, Realme phones might come pre-installed in the future.