Samsung Brings Samsung Finance+ to Customers in India

Samsung, India's largest and most trusted consumer electronics and smartphone brand, is starting home delivery of one of its most popular services - Samsung Finance+, making it simpler for customers to buy Galaxy smartphones at easy finance at their homes.

Samsung Finance+ is a unique and universally accessible digital lending platform that provides easy financing opportunity to consumers for purchase of Galaxy smartphones in India.

Samsung Finance+ service is currently available across 12,000 dealers in nearly 300 towns. To avail the Samsung Finance+ service, customers had to earlier walk-in at select dealerships. Now, Samsung is facilitating home-delivery of Samsung Finance+ service to customers to ensure social distancing norms.

"At Samsung, consumers are at the heart of everything we do. The home delivery of Samsung Finance+ will enable our consumers to buy their favourite Galaxy smartphone at easy finance from the comfort of their homes. It will also ensure that our consumers don't have to step out to a physical store at a time when Social Distancing is the new normal. Samsung Finance+ is our 'Make for India' initiative towards financial inclusion and Digital India. We are confident that the home delivery of Samsung Finance+ will help millions of consumers in India," said Mohandeep Singh, Senior Vice President, Mobile Business, Samsung India.

Samsung partnered with DMI Finance for its Samsung Finance+ service in India. DMI Finance is a pioneer in the use of technology for transmission of credit to the end customer.

"These testing times have only strengthened DMI's resolve to provide hassle-free credit to the widest population possible. Lockdowns and work-from-home make it even more important that people have the ability to get financing to purchase a smartphone from the safety of their living room. We are proud to partner Samsung in extending the successful Finance+ program to home service," said Shivashish Chatterjee, co-founder, DMI.

How it works: The Consumer Journey

Customers looking to buy a Galaxy smartphone on finance can contact their neighbourhood dealers. The dealer will then send a Samsung promoter to the prospective customer's house. The Samsung promoter will help the customer complete the loan journey in the comfort of his/her home.

After filling in their personal details for a simple KYC verification and credit scoring, customers will get multiple offers on various Galaxy smartphones. The entire journey is fully digital, fast and convenient. Given the importance of social distancing in the current circumstances, Samsung's new initiative will ensure the customer gets finance for Galaxy smartphone without the need of visiting a store.

The key features of Samsung Finance+ are:

Fully Digital: Consumers go through a paperless journey with the Samsung promoter assisting the customer through the process

Customized offer for everyone: Nearly all consumers applying for finance end up getting an offer on the Galaxy smartphone of their choice

Universally Accessible: Wide reach in India through Samsung’s strong retail presence

Samsung Finance+: Make in India

Samsung Finance+ was developed in India at the Samsung R&D Institute India-Bangalore. SRI-B engineers worked closely with SIEL from early 2018 in assessing market requirements, designing product features, running limited pilots to validate the concepts and building a data driven, scalable multi-sided lending platform which can meet the demands of a market like India. The entire engineering design and development of this platform is done out of SRI Bangalore.