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Mi Credit has been running in India in a pilot format, and has already disbursed loans of over Rs 28 crores (approximately ~1 Cr \/ day) in November 2019. Over 20% of the users have availed the highest amount of loan Rs 1 lakh. Currently, Mi Credit services more than 10 states spanning across 1,500 pin codes, and aims to expand its availability to 100% of the pin codes (more than 19,000 pin codes) by the end of FY2019.
Mi Credit is an online curated marketplace for lending, to offer the personal loans to Mi Fans. The current lending partners are primarily NBFCs or Fintechs such as Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya.
Mi Credit app will now come preloaded on all MIUI phones, and can also be downloaded from Google Play Store and GetApps, Xiaomi’s own app store.
Xiaomi said that first time users can complete the digital application form within five minutes, and repeat customers can avail a loan with one click disbursement. Once the loan is approved within minutes, the consumer has the option to choose the amount and the tenure of the loan. The digital advantage also shows in realtime disbursement of loans and lower interest rates. Since Mi Credit is designed as a platform with multiple lending partners, it ensures higher success rate, with higher loan amount at a lower interest rate than any other existing solutions in the market.
Mi Credit users can also check their credit score instantly on the app, for free, a service which is powered by Experian.
All user data on Mi Credit is stored securely in encrypted format in India through our partner Amazon Web Services Cloud Infrastructure.
Hong Feng, Co-Founder and Senior Vice President, Xiaomi Corporation \/ Chairman and CEO, Xiaomi Finance, \"We see a huge opportunity for consumer lending in India with estimations reaching up to $1 trillion dollars in digital lending by 2023, as per a report from BCG. This makes us believe that our Mi Finance business, based on solutions such as Mi Pay and Mi Credit can truly revolutionise the Indian FinTech industry.”
Manu Jain<\/a>, Vice President, Xiaomi and Managing Director, Xiaomi India further added, “In India, the lending industry is on an explosive trajectory. As per a recent report from CIBIL, there are over INR 4 lakh crores worth of personal loans outstanding from nearly 1.9 crore customers, with each user accounting to an almost INR 2 lakh of outstanding amount. Of these 1.9 crore customers, majority tend to avail it for medical emergencies followed by shopping, wedding, travel and education purposes. We are bringing Mi Credit to India hoping to provide yet another innovative and truly digital solution for their lending needs.”
Mi Pay is a UPI<\/a> based payment app available on all MIUI phones, and can be downloaded from GetApps and Google Play Store. It was launched in India in March 2018, and within nine months has already captured over 20 million registered users.
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Mi信贷已经运行在印度飞行员格式,并且已经支付贷款在Rs 28卢比(约~ 1 Cr /天)在2019年11月。超过20%的用户利用贷款的最高金额1 Rs十万卢比。目前,Mi信贷服务超过10个州横跨1500密码,并计划扩大其可用性100%的密码(超过19000密码)FY2019年底。
Mi信用贷款是一个在线市场策划,提供个人贷款Mi的粉丝。当前贷款合作伙伴主要是nbfc或Fintechs Aditya Birla财务有限公司等资金来看,EarlySalary, Zestmoney CreditVidya。
Mi信贷应用现在会加载所有MIUI手机,也可以下载从谷歌播放存储和GetApps,小米自己的应用商店。
小米说,第一次用户可以在五分钟,完成数字申请表和重复的客户可以利用贷款有一个点击支付。一旦贷款批准了几分钟后,消费者有权选择数量和贷款的任期。数字优势还显示实时支付的贷款和较低的利率。自Mi信贷与多个贷款合作伙伴的目的是作为一个平台,它确保更高的成功率,以更低的利率贷款金额较高的比其他任何在市场上现有的解决方案。
Mi信贷用户还可以检查他们的信用评分立即应用,免费服务,这是由益百利。
Mi信贷安全地存储所有用户数据加密的格式通过我们的合作伙伴在印度Amazon Web服务的云基础设施。
香港冯,联合创始人兼高级副总裁,小米公司/董事长兼首席执行官,小米融资”,我们看到一个巨大的机会,消费信贷在印度与估计数字贷款达到1万亿美元,到2023年,根据波士顿咨询公司的一份报告。这让我们相信,我们的金融业务,基于解决方案,比如Mi和Mi信用才能真正彻底改变印度FinTech行业。”
马努耆那教徒的小米副总裁和总经理,小米印度进一步补充道,“在印度,贷款行业是一个爆炸性的轨迹。从CIBIL根据最近的一份报告中,有超过INR 4价值十万的卢比的个人贷款余额近1.9卢比的顾客,几乎与每个用户会计INR 2十万的债务总额。这些1.9卢比的客户,多数倾向于利用医疗急救其次是购物,婚礼,旅行和教育的目的。我们将错过信贷印度希望提供了另一种创新的和真正的数字他们的贷款需求的解决方案。”
Mi薪酬UPI付款应用程序提供基于所有MIUI手机,可以下载从GetApps和谷歌商店。2018年3月,在印度推出,在九个月内已经捕获了2000万注册用户。
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