Bharti Airtel has formed a strategic partnership with Bajaj Finance to launch a new digital platform that is only aimed at financial services.
This platform will initially assist access to Bajaj Finance's retail financial products, including gold loans and EMI cards, via the Airtel Thanks app. Ultimately, these services will be available worldwide at Airtel stores.
The collaboration combines Bajaj Finance's extensive portfolio of 27 products, over 5,000 branches, and 70,000 field agents with Airtel's customer base of 370 million and a distribution network of more than 1.2 million touchpoints.
“The combined strength of the companies’ digital assets will enable Airtel and Bajaj Finance to significantly deepen penetration of financial products and services," according to the statement.
So far, two of Bajaj Finance's products have been tested on the Airtel Thanks App. By March, customers will be able to access four Bajaj Finance products on the app, including personal loans, business loans, gold loans, and a co-branded Insta EMI card.
Airtel will progressively offer close to 10 financial products of Bajaj Finance within this calendar year," according to the statement.
“Our partnership with Airtel not only leverages India’s digital infrastructure for inclusive growth but also brings together the expertise and reach of two of India’s leading and most-trusted brands," Rajeev Jain, managing director, Bajaj Finance said.
According to the statement, Airtel users can apply for the Airtel-Bajaj Finserv Insta EMI card through the Airtel Thanks App and its network of stores nationwide.
“Airtel-Bajaj Finserv EMI card provides access to a range of offers available to Bajaj Finance customers. Users will benefit from flexible EMI options and payment plans for purchasing various goods, including electronics, furniture and groceries at over 1.5 lakh partner stores across more than 4,000 cities. Additionally, the co-branded card is applicable for e-commerce transactions on multiple platforms," it added.
