Joining the bandwagon of Chinese smartphone makers getting into providing financial services in India, Oppo has launched ‘OPPO Kash’. The service is a financial services arm from the Chinese company, which will initially provide upto INR 2 Lacs of loan and mutual fund investment services. The app will come pre-installed on all OPPO phones, apart from being available to download via Google Play Store.
OPPO Kash is powered by Finshell, another OPPO subsidiary that is in the financial services business. Finshell currently provides free credit reports, mutual fund investments, personal loans and smartphone insurance.
“With OPPO Kash, we will provide end-to-end financial solutions, available at the palms of our consumers. Our aim is to have 10 million consumers in the next 5 years on the platform having used either of our Financial Services worth Rs 50,000 crore,” said Sumit Walia, Vice President, OPPO.
In the next 18 months, Oppo aims to provide customers with six more service offerings under Oppo Kash. These include payments, lending, savings, insurance, financial education, and a financial well-being score.
OPPO isn’t the only Chinese smartphone maker that is entering India’s lucrative and untapped financial services segment. Its compatriots Xiaomi and Realme have already entered the segment with the former even launching an ‘Mi Pay’ app recently.