'Oppo Kash' Digital Lending App With UPI to Launch Soon in India: Report

Following in the footsteps of Xiaomi which recently launched the Mi Credit app in India, Chinese smartphone brand, Oppo, is reportedly looking to launch its financial services platform in India. To be called Oppo Kash, the upcoming platform has apparently been under testing for a while, and will debut in the first half of 2020. That'south according to 91Mobiles, which claims the app will operate similarly to many other financial services platforms in the country insofar as it will offer hassle-complimentary microloans with flexible repayment schemes.

It will also exist available on both Android and iPhones, and will come pre-loaded on all upcoming Oppo devices. Sources quoted by the report farther claimed that the app will come with UPI integration and have an choice to buy smartphones on EMIs. It is evidently beingness developed by FinShell, the company behind the recently-appear PaySa app from Oppo'south sister company, Realme. Meanwhile, Oppo is also said to exist training a dedicated team of customer care reps to help educate users on how to use the app.

In addition to expanding their hardware and software ecosystems in India, Chinese tech firms are increasingly eyeing the emerging financial service sector in the country of late. While digital transactions still have a ways to go in the country, the growing economy and the government's push for digital transactions is making the nation an increasingly lucrative market that global tech firms, including Google, Facebook and others, are looking to capture with services like Google Pay, WhatsApp Pay etc.

Correct on cue, Xiaomi last year too forayed into the country's financial services sector with its digital lending platform, Mi Credit, that claims to provide personal loans upward to Rs. ane lakh to users aged 18 and above. Originally launched as a pilot project back in 2018, the platform has reportedly disbursed loans worth Rs. 125 crore in Bharat until at present. As for Oppo's rumored service, details well-nigh information technology are notwithstanding sketchy at this point, simply we'll hopefully get more information soon.