Samsung, has launched its digital lending program Samsung Finance+ to help consumers buy electronics products this festive season. Through Samsung Finance+, consumers across the country will be able to get easy credit to buy electronics products such as TVs, soundbars, refrigerators, washing machines, microwaves, and air-conditioners by getting a loan sanctioned within 20 minutes at retail stores across the country.
“Samsung is launching Samsung Finance+ at around 3,000 consumer electronics stores in 1,200 cities across the country. Samsung plans to take Samsung Finance+ to more than 5,000 retail outlets in around 1,500 cities by the end of 2022, supporting consumers during the festive period,” said the company.
How does Samsung Finance+ Work?
To avail a loan under Samsung Finance+, buyers will need to visit the nearest select Samsung retail store with the requisite documents, ask for the Samsung Finance+ desk and submit the e-documents for KYC verification. Once KYC verification and credit scoring is done, the loan is disbursed with easy EMI payment plans within 20 minutes, claims Samsung.
Samsung has partnered with DMI Finance to launch Samsung Finance+ in India. DMI Finance is a pioneer in the use of technology for transmission of credit to the end customer.
“At Samsung, consumers are at the heart of everything we do. Samsung Finance+ is a testimony to our consumer-centric innovation and will help drive financial inclusion, furthering our commitment to Powering Digital India. We are positive that Samsung Finance+ will touch the lives of millions of consumers, especially those who are new to credit and are in semi-urban and rural markets,” said Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India.
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The Samsung Finance+ platform was developed in India at the Samsung R&D Institute Bangalore (SRI-B), where engineers worked closely with the Samsung India team to assess consumer requirements and design the features of the platform. The entire engineering, design and development of this platform was done out of SRI-B.
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