True Balance and True Credit, a subsidiary of Balance Hero, has inked an MoU with ShopClues for entering into a strategic partnership. The collaboration aims to expand product offerings and include EMI payment option for the customers.
The new EMI option will allow customers to pay for their products across 3-6 months EMI at a monthly interest rate of 6 per cent.
Besides, ShopClues dedicated to Tier-2, Tier-3 and Tier-4 cities and beyond will now have additional 8 million SKUs ranging from Rs. 50 to Rs. 10,000 of products in fashion, electronics and home & furnishing, accessories and kitchen.
Also, this brings new opportunity for the unbanked True Balance users who do not have debit and credit cards to pay for their purchase through their phone apps.
Corroborating on the same, Victor Choi, Chief Executive Officer, Balancehero, India, said “This partnership, will enable us to acquire more commerce products while also generating robust growth in revenue.”
Officially introduced in India 4 years back, True Balance has been instrumental in helping users manage their phone calls & data usage.
The app provides users with quick recharge and balance check option for single and dual sim card mobile users without interlocking through telecom carrier.