Home Credit & MobiKwik launch ‘Home Credit Money’

• ‘Home Credit Money’ app provides end-to-end digital experiences for Payments and Credit to users
• MobiKwik Wallet powers Home Credit money app for use cases like eCommerce Payments, QR payments, Bill payments and Money Transfer
• Home Credit enables users to avail Instant Credit up to Rs 10,000
• The app has received almost 100,000 downloads on Google Play Store in just 3 months.

Mumbai, January 28, 2020: MobiKwik, India’s largest digital credit platform, today announced a strategic partnership with Home Credit India, a local arm of the international consumer finance provider Home Credit Group with operations spanning in 9 countries across Europe and Asia to launch ‘Home Credit Money’. A mobile application-based wallet, Home Credit Money provides integrated end-to-end digital experience to its customers for their daily life payments and borrowing needs.

MobiKwik’s partnership with Home Credit India is purely digital and at par with the changing spending habits of the aspiring young Indian population. Built with the vision to build a Digital Credit Card for 100 Million Indians, MobiKwik believes the form factor for delivering on the India Credit opportunity is going to beDigital, and not a physical card.

The app is developed keeping in mind our users all payment use cases like eCommerce Payments, QR payments, Bill payments and Money Transfer. The app facilitates users to transact across top eCommerce brands, the3 million+ physical retailers, and 300+ billers

Home Credit money enables users to avail instant interest-free loan ranging from Rs 1,500 to Rs 10,000 directly into their Home Credit Money wallet. This simple and easy online journey with no physical documentation is available to existing customers of Home Credit along with the benefits of a mobile wallet like instant cashback and super cash, marketplace offers and deals. In addition, the customers can also avail personal loans of upto Rs 2,40,000.

Speaking on the tie-up, Mr. Marko Carevic, Chief Marketing and Customer Experience Officer, Home Credit India said; “At Home Credit, our goal is to empower our customers by offering credit facilities that are seamlessly integrated with their purchase journeys. Built on customer-centricity, we believe that our partnership with MobiKwik is a significant step towards taking customer engagement and experience to a new level. With MobiKwik’s robust ecosystem, and capability to keep customers engaged with its large merchant network, we hope to create many more unique and customized products to address unmet financial needs of millions of customers in India.”

Home Credit India customers will be made aware about the importance of going digital and the partnership will act as a digital support to them during these challenging times. The company is committed to drive credit penetration and broaden financial inclusion through responsible lending.

Commenting on the partnership, Upasana Taku, Co-founder & COO of MobiKwik said, Mobikwik is committed to deliver credit digitally to the next 100 Million Indians and our partnership with Home Credit helps us in doing so. We believe that a digital wallet is the most suited platform to distribute small ticket loans to the users as they can easily avail the money with zero documentation hassles. By stitching a credit line to user’s mobile wallet we create a virtuous circle of Consumers using Digital Credit and Digital Payments for their daily shopping.”

About MobiKwik

MobiKwik is India’s leading fintech platform, operating businesses in consumer payments, financial services and payment gateway. The vision of the company is - to build a Digital Credit Card for 100 Million Indians. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised $110M in funding from marquee investors. With 60% Indian ownership, MobiKwik is the Truly Indian Payments App.

MobiKwik’s payments network is one of the largest in India with 120 million users, 3 million merchants, and 300+ billers. Since 2018, the company has pre-approved 15 millionusers for its Digital Credit Card aka Buy Now Pay Later “BNPL” product Zip. The Credit is available to users for making payments via the MobiKwik Wallet and the MobiKwik Blue Amex Card. The company ventured into the Wealthtech space with the acquisition of Mumbai-based Clearfunds.

 For more information visit www.mobikwik.com

About Home Credit India:

Home Credit India Finance Pvt. Ltd. is a local arm of the international consumer finance provider with operations spanning over Europe and Asia and committed to drive financial inclusion in India. The company is committed to drive credit penetration and financial inclusion by offering wide financial solutions that are simple, transparent and accessible to all.

Home Credit India has an employee base of over 13,500 and has been consistently expanding operations since its entry in 2012, with its operations spread over 367 cities across 22 States in India. The company has a strong network of around 30,600 points-of-sale (PoS) and is growing with a customer base of over 11.7 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience.

For more information, visit www.homecredit.co.in