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Forget Wallets, Check out This Serious FinTech Product Built in India: ZestMoney for Instant Credit

Vijay is a middle-class guy who just got his first job after college and wants to buy an iPhone 6 for Rs. 45,000. He obviously doesn’t have enough money to buy it in one shot and he doesn’t have a credit card (like 98% or more people). He can go for a loan but the banks would ask for collaterals/salary statements; banks don’t give money to those who need it the most. What if he went to an e-commerce site and saw a great deal on the phone and wanted to buy it there and then? Do you think he has any options? Well, very soon he will have options. A credit product is coming to your favorite e-commerce sites that is instant, on-demand and can fill the credit card gap in India. ZestMoney provides an on-demand instant credit, an instant digital EMI of sorts. I think it’s one of the most exciting FinTech companies in India this year – one that will revolutionize the way you buy online.

With growing income levels and the burgeoning middle-class, we are seeing unprecedented levels of consumerism in India. And it’s not just about the fancy restaurants that people are going to or shiny new vehicles they are buying but it’s also about the electronic products and lifestyle products they are buying. People are buying more and they are buying online. ...

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