HMD Global, the seller of Nokia phones, on Wednesday entered into device financing space in India partnering DMI Finance. Known as HDM Easy Pay, the scheme starts with four smartphones; Nokia G42, Nokia C32, Nokia C22 and Nokia C12 Pro.
HMD aims to target the budget buyers including those new to credit with the financing scheme which will be available at 4,000 retail outlets across India.
HMD said that the potential buyers need not have to carry any physical document to avail this facility but they will only require Aadhaar number, PAN card or debit card details.
“The loan disbursal will be paperless, and instant and can reach to channel partners within 2 hours of the transaction. There will be no-cost EMIs and down payment options, with no hidden fees,” claimed HMD. The EMI options will be on 6 months or 8 months basis.
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If a customer defaults his/her loan then HMD’s soft lock solution that works in the backend will seize the operation of the phone untill its cleared.
HMD also said that it is going to expand the financing options on other devices in the Nokia’s ecosystem in days to come. It also plans to bring HMD branded handsets in Q1 or Q2 of next financial year with India as a focus country.
“HMD Easy Pay is the realization of that commitment, a ground-breaking financing program that places Nokia smartphones within reach of all. We are thrilled to be partnering with DMI Finance to bring this revolutionary solution to our customers,” said Ravi Kunwar, VP-India & APAC, HMD Global.
