Samsung Finance+, a digital lending platform, was initially launched in India to assist customers with financing options for the purchase of Galaxy smartphones. The company has now expanded this program for purchase of its wide range of consumer electronics products during the festive season.
The firm has partnered with DMI Finance to expand this program in India. Through Samsung Finance+, people all over the country will be able to get easy credit to buy their Samsung consumer electronics like TVs, soundbars, refrigerators, washing machines, microwaves, and air conditioners.
Samsung claims that Finance+ provides loans in a few simple steps. Consumers must bring the necessary documents to the nearest Samsung retail store, inquire about the Samsung Finance+ desk, and submit the e-documents for KYC verification.
After KYC verification and credit scoring, the loan is disbursed in 20 minutes with simple EMI payments. Following completion, customers will be able to purchase their preferred Samsung product without difficulty.
Key Features of Samsung Finance+
- Fully Digital: Consumers enjoy a paperless journey with the in-store Samsung promoter assisting the consumer through the process
- Customized offers for everyone: Nearly all consumers applying for finance end up getting an offer on the Samsung product they want to buy
- Universally Accessible: Wide reach in India through Samsung’s strong retail presence across the country
To begin with, Samsung is introducing Samsung Finance+ in 1,200 cities across the nation at approximately 3,000 consumer electronics stores. By the end of 2022, Samsung plans to expand Samsung Finance+ to more than 5,000 retail locations in approximately 1,500 cities, helping customers during the holiday season.
Regarding the program, Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India said,
At Samsung, consumers are at the heart of everything we do. Samsung Finance+ is a testimony to our consumer-centric innovation and will help drive financial inclusion, furthering our commitment to Powering Digital India. We are positive that Samsung Finance+ will touch the lives of millions of consumers, especially those who are new to credit and are in semi-urban and rural markets.