India, February 14, 2018- Kissht,
one of India’s leading Financial Technology start-ups providing an EMI payment
and digital lending platform, today announced the launch of an exclusive feature
‘Scan and Pay Later’ credit wallet, a first of its kind in the Indian Fintech
ecosystem. Customers can now shop on credit using the exclusive “Kissht QR
Code” which will be usable in select offline stores and modern retail chains
across the country. This launch has widened the markets for OEMs (original
equipment manufacturers) and modern retail chains.
can be achieved in under 60 seconds, customers can select, scan and walk out
with the desired product with just one OTP authentication from their Kissht
credit wallet. Scan & Pay Later credit wallet will be available in 32
cities across India, at 3000 partnered merchant stores. The product is being
launched with all existing merchant partners and brands such as Dell, Prestige,
Intex, Caratlane and others. The product was in its pilot phase for a duration
of three months during which there was a visible increase of 30-35% in footfalls
in tier I and tier II cities.
include Kissht QR code along with their advertisements in newspapers. Customers
who desire to buy the products can scan these codes to instantly check their
line of credit, and upload the required documents through the app for credit
approval. Once approved, the customers can walk in to a nearby merchant store
with the pre-approved loaded wallet and buy the product of their choice
instantly, and re-pay the money to Kissht in easy instalments later.
of view, the final approval of the loan can be brought down to 1 minute. This
will enable higher acceptance in the market over the other players in fin-tech
space where quick approval is thumb rule.
said, “We introduced this new feature to increase the footfalls in offline
stores and retail chains where customers’ intention to buy has always been
there but instant, convenient and affordable credit options were missing. After
introducing this feature, there has been 30% additional footfall in these
stores. We are in advanced talks with OEMs like Reliance Jio, VIVO, COMIO,
ezone, HomeTown & many more. We believe this innovation will add true value
and could help drive up sales by at least 30%.”
|Krishnan Vishwanathan, Founder & CEO, Kissht