Oppo announced its entry into financial services with 'OPPO Kash' that offers users to invest in mutual funds, along with free credit reports, personal loans up to two lakh, business loans up to ₹2 crore and screen insurance.
Coming pre-installed in all OPPO smartphones, five products have been launched in the beta release with Freedom systematic investment plan (SIP) as a unique offer. With Freedom SIP, users can commence their mutual fund investments journey with as low as ₹100 worth of investment, the company said in a statement.
"With OPPO Kash, we will provide end-to-end financial solution, available at the palms of our consumers. Our aim is to have 10 million consumers in the next 5 years on the platform having used either of our Financial Services worth ₹50,000 crore," said Sumit Walia, Vice President, OPPO.
The platform aims to have six offerings in the next 18 months - payments, lending, savings, insurance, financial education and a financial well-being score.
Smartphone players like Xiaomi and Realme have also forayed into the financial services sector in the recent past.
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