Samsung tweaks Finance+ to allow for home delivery of phones as COVID-19 lockdown stalls sales

Advertisement
Samsung tweaks Finance+ to allow for home delivery of phones as COVID-19 lockdown stalls sales
The Samsung Galaxy S20 PlusRounak Jain/Business Insider India
  • To avail the facility, customers will have to contact the nearest Samsung dealer.
  • The company says that the process is entirely digital, and that the agent will come to your house to carry out KYC and credit checks.
Advertisement
Samsung Finance+, the company’s digital lending platform, can now be availed by customers from their homes, the Korean smartphone maker announced today. This will allow customers to buy Samsung smartphones using the company’s financing platform in over 300 towns across the country.

Xiaomi, the current market leader in the smartphones category in India, launched its own digital lending platform called Mi Credit in December, 2019. This was followed up by the launch of Realme’s Paysa platform.

Both the platforms offer instant loans to customers and the process is entirely digital.

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.25th Aug, 2022 Starts at 04:00 PM (40 mins)Register Now
Our Speakers
Dan Sheeran
Sandeep Gupta
Prior to this, Samsung Finance+ was available only at select dealerships. Customers who wanted to avail the service had to walk-in to these dealerships. Now, the entire process will be done by a Samsung agent at the customer’s house.


Samsung has partnered with DMI Finance, a non-banking financial company. The company says that the entire process is digital, so social distancing norms will not be violated.
Advertisement


“The home delivery of Samsung Finance+ will enable our consumers to buy their favourite Galaxy smartphone at easy finance from the comfort of their homes. It will also ensure that our consumers don't have to step out to a physical store at a time when Social Distancing is the new normal,” said Mohandeep Singh, Senior Vice President, Mobile Business, Samsung India.

Here's how you can avail Samsung Finance+ service from your home

To avail the Samsung Finance+ service from your home, you will have to contact Samsung dealers in your neighbourhood.

After you contact the dealer, a Samsung agent is sent to your house. The agent will then perform KYC (know your customer) verification and check your credit score. Once that is done, you will be given the best offers available on Galaxy smartphones.

It remains to be seen if this new Samsung financing program gains traction, especially since 86% of Indian consumers are worried about repaying loans after the moratorium period ends.

Advertisement
See also:

86% Indian consumers are worried about repaying loans after moratorium, says a new BCG survey

Over 136 million jobs are at risk due to Corona lockdown — Here are the worst-hit sectors

India’s looming jobs crisis is starting to unravel within the first 21 days of coronavirus lockdown