CASHe Integrates Paytm Wallet for Direct Cash Transfers thereby Becoming India’s First Mobile-Enabled Instant Loan Application to Integrate a Mobile Wallet
CASHe will now offer its customers to transfer their personal loans directly in to their Paytm Wallet
CASHe becomes India’s first mobile-enabled instant loan application to integrate a mobile wallet
Launched on April 1 2016, CASHe is currently disbursing 10 crores of loans per month
CASHe offers loans ranging from Rs. 5,000 to Rs. 1,00,000 payable over 15, 30 and 90 days
Aeries Financial Technologies Pvt. Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar, today announced that CASHe, India’s fastest loan giving app for young salaried professionals, has partnered with Paytm, India’s largest mobile payments and commerce firm to allow its users to deposit cash transfers from CASHe to their Paytm wallets. CASHe offers multiple loan options ranging from Rs 5,000 to Rs 1,00,000 payable over 15, 30 & 90 days.
With this integration, users of CASHe now have an option to transfer their loan amounts into their Paytm Wallets in part or in full and credit the rest of the amount into their bank accounts. This is an industry-first innovation from CASHe.
Speaking on this latest development, Mr. V. Raman Kumar, Chairman, Aeries Financial Technologies Pvt. Ltd. said, “The mobile wallet usage has grown exponentially over the last few years. We are excited with our partnership with Paytm, the leader in digital payments in India. Both CASHe and Paytm stand to gain with this integration. Our easy-to-use mobile application platform will now offer an option for our users to directly credit their loan amounts into their Paytm accounts in parts and the rest can be directly credited in to the bank accounts. With their wallets now funded, our customers can use Paytm to pay for various transactions. The integration with Paytm is in line with our product expansion strategy to continuously innovate and offer benefits to our customers”.
CASHe provides hassle-free loans with its app enabled documentation and loan disbursal / repayment process. Powered by its industry-first algorithm driven credit scoring platform, The Social Loan Quotient (SLQ), CASHe quickly determines a user’s credit worthiness by using multiple unique data points to arrive at a distinct credit profile of the customer. SLQ is transforming the traditional credit rating measurements thereby providing immediate loans to the under-served young professionals who are kept out by traditional credit rating and banking systems. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is about 8 minutes, subject to proper submission of all documents
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CASHe, a fin-tech product from TSLC PTE. LTD., is as unique as the young professionals it serves. In a smart digital world, CASHe offers millennials quick and easy personal loans through processes that are transparent, innovative and tuned to the times. CASHe utilises sophisticated algorithms and machine learning capabilities to deliver an amazing and improved lending experience to our customers, thereby helping young professionals achieve their financial goals effortlessly. CASHe offers instant transfer of funds for approved applicants. An initiative established by a visionary founder whose last venture was valued at over a billion dollars, CASHe is brought to you by a team known as much for its expertise and experience in technology, banking, AI and big data analytics as it is for its past entrepreneurial success. CASHe is currently available on Android and iOS platforms.
Click here to know more on CASHe. Download app from Google Play and iOS app store
Paytm is India’s largest mobile payment & commerce platform. With the current user base of more than 180 million, Paytm is on a mission to bring half a billion Indians to the main stream economy using mobile payment, commerce and soon to be launched payment banking services. Consumer brand of India’s leading mobile internet company One97 Communications, Paytm is headquartered in New Delhi NCR. The company’s investors include Ant Financials (Alipay), Alibaba Group, SAIF Partners, Sapphire Venture, Mediatek and Silicon Valley Bank.