PhonePe launches new ‘Credit’ section: Fintech company PhonePe on Thursday launched a new ‘Credit’ section on its platform. On this section, users can check their credit bureau score. The company said that users can use the credit section on the homepage of the PhonePe app to manage their credit or Rupay cards, repay loans or pay credit card bills without any additional cost.
PhonePe said, ‘Credit bureau report provides users with details like their credit usage, credit age, on-time payments and more.’
Excited to launch credit section on PhonePe app: CEO
Hemant Gala, Chief Executive Officer (CEO), PhonePe Credit, said, “We are excited to launch the Credit section on the PhonePe app, which is another step towards our goal of meeting the credit needs of consumers across multiple segments. We believe that financial empowerment starts with understanding and managing your credit health.
The company will expand its credit offering by introducing consumer loans.
PhonePe will expand its credit offering by offering consumer loans within the app in the coming months. The company is working with lending partners such as banks and non-banking financial companies (NBFCs) to expand its loan business.
PhonePe entered stock broking in August
PhonePe entered stock broking in August with Share.Market, which is part of its subsidiary PhonePe Wealth Broking. This move is expected to help PhonePe compete with companies like Zerodha, Upstox, Groww and ICICI Direct.
Entered e-commerce by launching ‘Pincode’ in April
In April, PhonePe had forayed into e-commerce by launching ‘Pincode’, a shopping app on the government-backed Open Network for Digital Commerce platform. This app focuses on hyperlocal commerce.
