Realme launched its new financial service app called Real PaySa in India today during the launch event of the Realme X2. According to a tweet from CEO Madhav Sheth, Realme PaySa will disrupt the financial services industry. Sheth’s comment came a few hours before the event. The Realme Buds Air wireless earbuds were also unveiled at the event.
Realme PaySa is quite similar to Xiaomi’s Mi Credit Service that was recently introduced in India. The key features being lending, savings, an array of business tools, and protection from fraud. The company announced that while some of the features are available at launch, the rest will follow. Realme assured users that their data will remain private, as the company has left no stone unturned in employing the latest hardware and security encryption available. The Realme PaySa will be available on all Android devices soon. Interested users can download the Beta version from Google Play and explore the few features currently available.
Realme PaySa Features
Personal Loan – Customers can avail easy personal loans online using PaySa, starting from Rs. 8,000 all the way to Rs. 1,00,000. Realme claims disbursements are made as quickly as 5-minutes, while flexible repayment terms mean you can return the amount within 3 and 12 months. Realme is offering this service in partnership with EasySalary.
Business Loan – Users can also available micro and small business loans with PaySa starting Rs. 50,000, all the way up to Rs. 5,00,000. Business loans are available with flexible tenures and are available for 90% of Indian postal codes. Realme has partnered with LendingKart for business loans.
Screen Insurance – With Realme PaySa users can protect smartphone displays for both old and new devices across any make and model. The service is entirely digital and is being provided in association with ICICI Lombard.
Free Credit Report – Users can access their credit report via PaySa for free in under a minute. While the first three reports are completely free, the following reports are chargeable. Realme is offering this service in association with CreditMantri.
What makes Realme PaySa more accessible is the fact that users can communicate with customer care executives in both Hindi and English. Realme PaySa was initially spotted as a public beta on the Chinese microblogging website Weibo. Users that tested the service at the time reported that bank services were limited. However, Realme has now partnered with local financial service providers in India, opening up a wider service portfolio for customers.
In related news, the Realme X2 has officially arrived in India. The Snapdragon 730G powered device flaunts a 6.4-inch Full-HD AMOLED display with a resolution of 2340 x 1080 pixels and flaunts an in-display fingerprint scanner.. The quad-camera setup on the X2 comprises of a 64-megapixel Samsung GW1 sensor with an 8-megapixel wide-angle lens, a 2-megapixel depth sensor, and a 2-megapixel macro lens. The smartphone flaunts a 32-megapixel sensor for taking selfies. The Realme X2 draws power from a 4,000 mAh battery with 30W VOOC 4.0 fast charge support. The phone comes with up 8 GB of RAM and up to 128 GB of UFS 2.1 storage. The same phone will go on sale on Dec. 20 with a starting price of Rs. 16,999 (~$240).
UP NEXT: Realme X50 5G (RMX2051) spotted at CMIIT; Key specifications revealed
