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Samsung Pay has teamed up with Paisabazaar.com, an India-based marketplace for financial products, to enable Samsung Pay users to apply for credit cards and personal loans through the platform, per a press release. The offering includes Paisabazaar’s “Chance of Approval” feature, which uses algorithms to recommend the best lender for a consumer and boost the likelihood of their request being approved.
Here’s what it means: Samsung is upping its wallet’s value to better take advantage of its position as a top mobile provider in India.
Allowing users to apply for credit cards and personal loans gives the mobile wallet more utility and could lead to users relying on it for more of their financial needs. Indian consumers may be more likely to adopt Samsung Pay if it offers more capabilities, and credit cards and personal loans should prove particularly enticing since they’ve seen growing usage in India. Offering more financial products via Samsung Pay could also increase wallet usage by giving consumers greater ability to …read more
Source:: Businessinsider – Finance