New Delhi: Chinese smartphone<\/a> companies trying to carve a niche in the fintech<\/a> space have had a tough time, possibly on account of poor consumer sentiment following Sino-Indian border tension. 中国智能手机企业试图雕刻一个利基fintech空间经历了一段艰难时期,可能因为贫穷消费者信心在中印边境紧张局势。 新德里消息:中国智能手机公司试图雕刻一个利基fintech空间经历了一段艰难时期,可能因为贫穷消费者信心在中印边境紧张局势。 New Delhi: Chinese smartphone<\/a> companies trying to carve a niche in the fintech<\/a> space have had a tough time, possibly on account of poor consumer sentiment following Sino-Indian border tension.
Xiaomi<\/a>, Oppo<\/a> and Realme<\/a>, which launched their fintech apps Mi<\/a> Pay and Mi Credit, Oppo Kash and Realme PaySa, respectively, at the start of 2020 have so far seen fewer than 1 million downloads each on Google<\/a> Play Store against their user base of 20-100 million.
Even in terms of transactions, they have barely made a dent. Mi Pay and Realme PaySa recorded 480,000 and 10,000 monthly transactions, respectively, throughout 2020, with minimal month-on-month growth, according to data on the National Payments Corporation of India portal. Comparatively, market leaders PhonePe recorded 902.3 million and Google Pay 854.49 million monthly transactions.
Even after digital adoption accelerated during the pandemic, other offerings from these Chinese companies such as quick loans, insurance and mutual fund investments failed to gather steam, fintech analysts said.
They said the reason is mainly because of the backlash against Chinese companies due to Sino-Indian border tensions for several months.
“Brands tried to diversify in the financial services segment to monetise their existing user base via these services and potential ad revenues,” said Navkender Singh, research director at IDC India. “But we didn’t see any marketing from them after the launch, probably because they kept a low profile on account of public sentiments against Chinese companies.”
Additionally, he said, brand loyalty among Chinese smartphone<\/a> users is rare so a person who switches between brands in a year or two would rather have a Paytm or Google Pay account.
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Faisal Kawoosa, founder of research firm techARC, said lending activity across third-party apps had declined in 2020 as people’s credit scores had fallen in the aftermath of the pandemic.
“This could be the reason that smartphone brands could not grow their loans\/investment portfolio,” he said.
The companies are in no hurry and are working on their plans to capture the need-gaps that are untapped in the fintech segment, said Zafar Imam, CEO of Finshell, the company that powers Oppo Kash and Realme PaySa.
“Though the pandemic has unlocked several market opportunities, as a responsible brand, we believe that any consumer-facing development should not be rushed through without due diligence,” he said.
Xiaomi did not reply to ET’s query.
Samsung<\/a> Pay’s UPI payments almost doubled to 1.61 million transactions between April and December 2020, data showed.
“The sharp rise in Samsung Pay transactions can be attributed to our consumers preferring contactless payments during the pandemic,” said Sanjay Razdan, senior director, mobile business, Samsung India. “Samsung Pay also registered a healthy growth in payments done through credit and debit cards as well as in bill payments.”
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中国智能手机因为fintech空间中发现困难重重
小米,相对应的人和Realme,推出了其fintech应用心肌梗死薪酬和Mi信贷,同僚卡Realme PaySa,分别在2020年年初迄今见过不到100万下载谷歌玩店针对20 - 100的用户基础。
即使在交易方面,他们几乎没有什么进展。Mi薪酬和Realme PaySa记录480000年和10000年月度交易,分别在2020年,以最小的环比增长,数据显示印度国家支付公司的门户。相比之下,市场领导者PhonePe记录9.023亿年和8.5449亿年谷歌支付每月的交易。
他们说反对的原因主要是因为中国公司由于中印边境几个月的紧张关系。
”品牌试图在金融服务领域多元化货币化现有用户通过这些服务和潜在的广告收入,“Navkender辛格说,IDC研究主管印度。“但是我们没有看到任何营销从他们发射后,可能是因为他们保持低调的公众情绪对中国公司。”
此外,他说,在中国的品牌忠诚智能手机用户很少所以人交换机之间的品牌在一两年内宁愿Paytm或谷歌支付帐户。
研究公司创始人费萨尔Kawoosa techARC表示,借贷活动在第三方应用在2020年拒绝人们的信用评分下降后的大流行。
“这可能是智能手机品牌的原因不能发展他们的贷款/投资组合,”他说。
公司不着急,正在他们的计划来捕获need-gaps中未开发的fintech段,征服者阿訇说,Finshell首席执行官的公司朋友卡Realme PaySa。
“虽然大流行开启了几个市场机会,作为一个负责任的品牌,我们相信任何面向消费者的发展不应该匆匆通过尽职调查,”他说。
小米没有回复等的查询。
三星支付的UPI支付几乎翻了一番,达到161万年4月和2020年12月之间的交易数据显示。
“三星的急剧上升支付交易可以归因于我们的消费者倾向于非接触式支付在大流行期间,“Sanjay拉兹丹说,高级主管,移动业务,三星印度。“三星支付也注册一个健康成长的支付通过信用卡和借记卡以及账单支付。”
Xiaomi<\/a>, Oppo<\/a> and Realme<\/a>, which launched their fintech apps Mi<\/a> Pay and Mi Credit, Oppo Kash and Realme PaySa, respectively, at the start of 2020 have so far seen fewer than 1 million downloads each on Google<\/a> Play Store against their user base of 20-100 million.
Even in terms of transactions, they have barely made a dent. Mi Pay and Realme PaySa recorded 480,000 and 10,000 monthly transactions, respectively, throughout 2020, with minimal month-on-month growth, according to data on the National Payments Corporation of India portal. Comparatively, market leaders PhonePe recorded 902.3 million and Google Pay 854.49 million monthly transactions.
Even after digital adoption accelerated during the pandemic, other offerings from these Chinese companies such as quick loans, insurance and mutual fund investments failed to gather steam, fintech analysts said.
They said the reason is mainly because of the backlash against Chinese companies due to Sino-Indian border tensions for several months.
“Brands tried to diversify in the financial services segment to monetise their existing user base via these services and potential ad revenues,” said Navkender Singh, research director at IDC India. “But we didn’t see any marketing from them after the launch, probably because they kept a low profile on account of public sentiments against Chinese companies.”
Additionally, he said, brand loyalty among Chinese smartphone<\/a> users is rare so a person who switches between brands in a year or two would rather have a Paytm or Google Pay account.
<\/p>Read also<\/h4>
<\/a><\/figure>Xiaomi, Motorola, Oppo, Oneplus to launch smartphones with Qualcomm Snapdragon 870 5G chipset<\/a><\/h5><\/div>
<\/a><\/figure>Realme, Samsung top consumer choices in Rs 20,000-Rs 30,000 segment: CMR<\/a><\/h5><\/div><\/div><\/div>
Faisal Kawoosa, founder of research firm techARC, said lending activity across third-party apps had declined in 2020 as people’s credit scores had fallen in the aftermath of the pandemic.
“This could be the reason that smartphone brands could not grow their loans\/investment portfolio,” he said.
The companies are in no hurry and are working on their plans to capture the need-gaps that are untapped in the fintech segment, said Zafar Imam, CEO of Finshell, the company that powers Oppo Kash and Realme PaySa.
“Though the pandemic has unlocked several market opportunities, as a responsible brand, we believe that any consumer-facing development should not be rushed through without due diligence,” he said.
Xiaomi did not reply to ET’s query.
Samsung<\/a> Pay’s UPI payments almost doubled to 1.61 million transactions between April and December 2020, data showed.
“The sharp rise in Samsung Pay transactions can be attributed to our consumers preferring contactless payments during the pandemic,” said Sanjay Razdan, senior director, mobile business, Samsung India. “Samsung Pay also registered a healthy growth in payments done through credit and debit cards as well as in bill payments.”
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