MI Card StashFin

Xiaomi India and StashFin have joined hands to launch Mi StashFin Credit Line Card in India. Powered by Visa, the card can be used at merchant locations and ATMs as well as during online transactions.

StashFin said that the partnership is aimed to enable easier finance for customers of consumer electronics across the categories offered by Xiaomi in India.

The Mi StashFin Credit Line Card will be a prepaid facility that would allow customers to avail a credit limit of up to ₹5 Lakhs and an option to repay in up to 36 months, thereby enabling them to be financially efficient.

“With our partnership with StashFin, we aim to strengthen our commitment to provide FinTech innovation to everyone. With StashFin’s smart and accessible financing options, shopping at our physical and digital stores is easier than ever. The Mi StashFin Credit Line Card is one of our key products as we look forward to offering a full spectrum of financial services in India with partners,” Ashish Khandelwal, Head, Mi Financial Services at Xiaomi India said in a joint statement.

With zero fee, the card will be contactless enabled and will offer funds from the StashFin App within 90 seconds. It will also present exclusive offers and attractive rewards at Xiaomi India’s online and retail stores, along with a credit line range of Rs 500 to Rs 5 Lakhs.

“Customers can also avail gift cards, in-store rewards, zero% interest, and several discounts by using the Mi StashFin Credit Line Card for their purchases at Mi India’s stores,” as per an official statement.

StashFin said that there is a large credit gap in the Indian market, one indicator of which is that only 30 million people use credit cards. “…there is an opportunity for the underbanked population to get instant financing, improved access to credit and build a healthy credit footprint.”

Xiaomi is the India’s leading smartphone brand.

Tushar Aggarwal, Founder and CEO of StashFin, said that the partnership is an opportunity for us to empower millions of Mi Fans and finance their purchases with a smart financing solution such as the Mi StashFin Card.” This partnership is key to our mission of driving financial inclusion for underbanked consumers. We are looking to fuel the aspirations of millions of Indians by deploying the latest technology for their financial freedom.”

By Editor

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