Vodafone's M-Pesa partners with Home Credit to facilitate EMI payments for consumer durable loans

Highlights:

1. Through this partnership, the customers of Home Credit  will be now be able to pay their monthly EMI through Vodafone M-Pesa 

2. Home Credit customers will get access to simple, easy-to-use and safe option for cashless loan repayments on Vodafone M-Pesa 

With an aim to facilitate EMI payments for consumer durable loans, Vodafone's mobile wallet service M-Pesa on Thursday announced its partnership with consumer finance company Home Credit India.

“This partnership will benefit existing and potential customers of Home Credit from 58 cities across 15 states, offering them a simple, easy-to-use, safe option for cashless loan repayments,” cited Vodafone India in a press release.

Commenting on its partnership with Home Credit India, Vodafone M-Pesa director Sandeep Kataria, said in a release, “M-Pesa is delighted to partner with Home Credit, providing a safe, speedy and convenient way for consumer durable loan users to pay their installments.”

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M-Pesa is Vodafone's mobile wallet service launched in 2007 which facilitates money transfer service.

Home Credit customers now have access to the largest agent network and can also opt to effect their loan repayments 'On the go' through the M-Pesa app, Kataria added. 

“Our customers can now pay their EMIs conveniently through the Vodafone M-Pesa’s impressive network throughout India. What is unique is even customers without internet connection can now pay their EMIs through the USSD facility from their non-smart phones,” Home Credit India chief marketing officer Tomas Hrdlicka, said in a statement.

Home Credit India is a Non-Banking Financial Companies (NBFCs) and has its operations in nearly 70 cities across 15 states in India.