OPPO all set to enter the Fintech Market with Oppo Kash in India

OPPO is one of the leaders in the Mobile phone market, which has emerged as a giant in a short span of time. Many Companies came and went by. However, OPPO has not only maintained its position, but slowly and steadily also climbed the ladder. It has become India’s third-largest selling brand after beating a lot of known brands in the mobile phone market.

With a huge announcement on Monday, OPPO has decided to enter the huge and rapidly raising arena of Fintech Services, with its new app named as OPPO Kash. Looking at the market statistics, after the demonstration, Fintech market is growing at a fast pace speed. People are switching to digital platforms for everything.

Mobile wallets like Paytm, Amazon Pay, UPI, Phone Pay, Google Pay and a lot of others including the cellular service providers are getting into the race. Currently, the beta version or we can say the testing version is available to download from the app store and play store. Said Sumit Walia, vice president—product & marketing at Oppo India, “Eventually we plan to position it as an end-to-end financial services platform.”

OPPO Collaborates With Other Smartphone Giants

At this time, OPPO has come up with a collaboration with a few other big smartphone giants of the industry. One of this is Xiaomi also known as MI and RealMe. These companies have already tied up with a few banks and are also offering loans and credits to the consumers. With the news of OPPO stepping into this field, it is now certain that lot of other companies will soon be stepping in. This will certainly lead to a great boom in the digital transaction or we can say Fintech world.

If we look at the market and analyze the situation, OPPO and RealMe are the subsidiaries of the same Chinese company – BBK Electronics. The current services that OPPO would be offering are basically Mutual Funds, Insurance, and SIPs. The best part is that in order to encourage the public or the consumers to opt for mutual funds, the investment value is set to very minimal. After successful testing of the app, one can assume that OPPO will make these apps pre-installed in future phones.

“All financial needs should be fulfilled when a user has an Oppo phone within few clicks and with a simple, mobile-first experience. We are the first smartphone brand in India to launch mutual funds and will continue to innovate,” pointed out Zafar Imam, lead at Oppo Kash.

The Future of Fintech Looks Bright!

With the entry of all the major service providers, industry leaders and major companies in the field of Fintech, the future of the digital market is definitely quite bright. The statistics back the same. As per statistics, during December 2019, there were transactions of a major chunk of money. The total transaction amounts were approximately Rs. 2 Lakh Crores using different digital payment modes.

So now, in the coming future, the consumers can expect a lot of such platforms offering the fintech services. Thus making a huge transformation in this sector.