CashSuvidha Ties Up With Fintech Startup Shubhloans

The consumer and SME loan market is expected to grow to $3,020 billion over the next decade, says a Credit Suisse report.The domestic financial landscape is likely to transform mainly on the back of government initiatives like Jan Dhan, Aadhaar and the unified payment interface, as also rising mobile penetration.The report also estimates that total retail loans are likely to increase five times over the next 10 years. Consumer loans-to-GDP ratio is likely to increase to 25 per cent of GDP by 2025-26 from 17 per cent now, driven by the increase in mortgage penetration and contribution from personal and other unsecured loans.

Unsecured personal loans which had slowed down in 2008 onward are now back in favor. The primary drivers for these loans apart from banks are the new age Fintech companies. Owing to big digitization push as well as Aadhar based authentication etc.,the risk associated with these non- asset backed loans are now better managed.

The Fintech companies, with their innovative models from desktop to app based, from their own balance sheet to partner’s balance sheet are redefining the way loans are acquired, assessed and disbursed.

Delhi based NBFC – Cash Suvidha which has always strived to take pole position in the tech enabled lending business has tied up with a new age fintech start up – Shubhloans which is a Risk As A Service platform owned by Datasigns Technologies. This tie up will enable CashSuvidha to holistically risk assess applicants and bring credit to those who deserve but find it difficult to procure credit.

“CashSuvidha aims to disburse over 20000 loan applications through Shubhloans in the year FY18, this tie up is complementary and will help in building synergies” – said Rajesh Gupta – Promoter of Cash Suvidha.

FreeCharge and Food Tech Platform Faasos Tie Up for e-Wallet Payment Solution

FreeCharge, Indian digital payments platform today announced its partnership with Faasos, one of India’s leading Food on Demand business as an e-wallet payment solution provider.

FreeCharge which has presence in the Food & Beverages category through merchants like foodpanda, Zomato, Swiggy, Freshmenu, Innerchef, Domino’s, Mcdonalds, Haldiram’s, CCD, Barista will further strengthen its position through this association.

Speaking on the partnership, Sudeep Tandon, Chief Business Officer, FreeCharge said, “We are glad to have tied up with Faasos as their e-wallet partners. This gives both the partners a potential to serve each other’s customer base and opens avenues of future innovative launches for their customers. The diversified geographical reach of Faasos is only set to grow bigger and we hope the association brings in good results for both the organizations.”

Faasos serves over 15,000 daily customers across 130+ locations in 14 Indian cities - Mumbai, Pune, Bangalore, Hyderabad, Chennai, New Delhi, Gurugram, Noida, Ghaziabad, Ahmedabad, Vadodara, Indore, Bhopal, Nagpur. It prides itself on being a one-stop catering solution to all ordering occasion i.e. from breakfast, lunch, dinner to evening tea and snacks.

“Faasos is all about unique, memorable and delightful experiences, and it is only possible when each aspect of ordering is made seamless. Post demonetization, we witnessed a 60% spike in online payments which now contribute to over 80% of transactions. It was very critical to integrate more online payment players on our platform to further boost smooth payment experience for our customers. FreeCharge came in as an obvious, and an important choice amongst wallets. We see a lot of value in this partnership which we believe will be symbiotic. While on one hand it will give our user base an added payment option, on the other it will give FreeCharge users a gastronomic experience on India's largest Food platform,” said SagarKochhar, Head of Marketing, FAASOS.

FreeCharge users ordering on Faasos can also avail a limited period Cashback offer of flat Rs. 75 off while placing orders on their app/website for a minimum of Rs. 75.

Uber Ties Up With Coverfox.com to Facilitate Car Insurance Solutions for Its Driver Partners Across 11 Cities

Coverfox.com, India’s fastest growing online insurance portal, has inked an exclusive partnership with Uber in India to facilitate car insurance solutions for its driver partners as part of Uber’s exclusive reward-oriented program, UberCLUB. Uber driver partners will have easy access to avail car insurance with best-in-class insurance premium rates and a host of value added services like insurance advice from experts through one-on-one interaction and Express Claims Service to name a few.

The UberCLUB program in India is an offshoot of Uber’s global Momentum Rewards Program. Currently, Coverfox car insurance services will be available across 11 cities viz. Mumbai, Delhi, Bengaluru, Kolkata, Hyderabad, Pune, Ahmedabad, Chennai, Kochi, Guwahati and Coimbatore, and is soon expanding to all Uber cities across India.

To avail this facility, Uber driver partners will simply need to visit their local Uber centre, where a Coverfox insurance expert will assist them through the process of buying the requisite insurance cover. The expert advisors will also provide information on the available products, discounted pricing, ease of buying the insurance policy, and how they will assist Uber driver partners in case they would need to file a claim at any point in time.

Talking about the partnership, Bhavik Rathod, General Manager South & West, Uber India, said, “We recognise that our driver-partners spend a considerable amount of time on the road and we want to ensure their over-all safety.  We are excited to partner with Coverfox for their customer commitment in providing insurance at an attractive cost while ensuring ease and transparency. We hope this partnership will be useful for hundreds of thousands of driver partners on the Uber platform.”

Jaimit Doshi, Chief Marketing Officer, Coverfox.com, said, “We are excited to collaborate with Uber in India and congratulate them on their thoughtfulness for their driver partners. This partnership is a small step towards innovations that are meant to make transparent and faster insurance. We are confident that Uber driver partners will benefit from our systems and experience a seamless insurance experience.”

Coverfox is a leading online auto insurance provider, besides selling health and travel policies. The Coverfox-Uber partnership is a step towards getting more and more insured cars on the Indian roads – a pre-requisite for stress-free and safe driving.

YMS Mobitech Partners With Mi India for Offline Accessories Distribution

YMS Mobitech Pvt. Ltd, a tech-based distribution start-up, has joined hands with leading smartphone manufacturer, Mi India to distribute its range of accessories in key states of Eastern India. The partnership will focus on offline distribution of Xiaomi accessories including Mi In-Ear Headphones, Mi Capsule Earphones, Mi Bluetooth Speaker, Mi Band 2, Mi Power Bank and other accessories. YMS Mobitech will make all Xiaomi accessories available to 2000 stores immediately across West Bengal, Bihar, Jharkhand, Orissa, Assam, Sikkim and all North Eastern states.

The YMS e-distribution network boasts of 11,000 retailers and 350 distributors across 364 cities in what is India’s largest app-based distribution ecosystem, guaranteeing on-demand sales with zero dead stock and zero loss of business opportunity.

Announcing the tie up Ajay Laddha, Co-founder, YMS Mobitech said, “YMS Mobitech has been consistently working with an aim to disrupt the distribution landscape in India through its pioneering e-distribution platform. We are happy that a leading technology player like Xiaomi has placed their trust in us. We are excited to offer Xiaomi’s accessories and look forward to helping them scale new milestones in India through our distribution ecosystem.”

“We have made significant movements in our offline distribution plans for India, especially in 2016. We have been taking gradual steps in this direction and believe our association with YMS Mobitech will take us a step further in our plan. As our India portfolio grows, we are foraying into the offline accessory market for the first time to extend our accessory experience for our fans,” said Vipin Raina, Head – Offline Sales, Xiaomi India.

The YMS e-Distribution Ecosystem

• All retailers, distributors and sales team operate via YMS app
• Distributor can transfer wallet balance to retailers by a click of a button and retailers can use the same to sell any product
• Distributor can check outstanding amount of any retailer and enter details of payment collected
• Distributors transfer inventory via YMS platform and track the status real time
• Retailers can sell any product from their app and view transaction details
• Channel partners get SMS and email for all transactions and notifications
• Distributors can check real time reports of sales done in their channel

YMS Mobitech also creates financial products for the electronics industry, under its brand Apps You Need, and uses its technology-driven platform to sell and monitor these products. Few months ago, it also launched an accessories and IoT brand CULT.