Realme, today, launched its much-awaited smartphone dubbed Realme X2 in the Indian market along with its brand new Realme Buds Air. Apart from these two products, the smartphone maker has also launched PaySa service in the country. Realme PaySa is a full-stack financial service application. The all-new financial service seems to compete with the likes of Mi Credit app which was recently rehauled. Like Mi Credit, the app offers four key features namely free credit report, personal & business loans, and screen insurance.
Realme PaySa App Features, Offerings
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The Chinese company has partnered with Credit Mantri to provide free credit reports to its users. Users will be able to generate up to three free credit reports in three months. The best part – the entire process takes a couple of seconds. You will have to enter basic details which include birth date and PAN card number. This feature gives detailed information which includes credit score, repayment history, key influencers, and credit inquiries.
Another key feature of the app is the ability to apply for personal as well as business loans at the user’s convenience. The brand is offering personal loans from INR 8,000 ($115) to INR 1,000,000 ($14,000) with the repayment options to up to 12 months. Businesses, on the other hand, can make use of loans up to INR 100,000,000 ($1.4M) with repayment tenuring from one year to five years. All of these loans can be secured with limited paperwork.
The fourth and the last feature of the app is the ability to buy screen insurance. If you own a Realme smartphone, then you can purchase the screen insurance through the PaySa app. Users can submit up to two claims per year as per the company. Since the app will deal with a massive amount of sensitive data, the company has assured the usage of high standard IT security. At the time of writing this, the application is currently under beta stages.