True Balance, the fin-tech app that allows users to check the balance of their prepaid mobile, recharge and more is now expanding its service with the launch of an e-commerce marketplace to sell smartphones. The new feature in the app will help users in tier-II and tier-3 cities of India to purchase smartphone and feature phone.
The e-commerce platform enables customers to have benefits of buying smartphones with retail partners and access fin-tech services like digital payment, insurance, and purchase of financial services. The facility is made for users in tier-II and tier-III cities in mind and the company also plans to sell accessories, small electronics, etc soon in the country.
The company says that it will keep adding a wider range of partners to increase its offering in the handset category and is all set to expand its revenue generation and Gross transaction volume. It also adds that the availability of handsets through True Balance application will help them reach out to larger consumers especially from India 2 and India 3 where availability of products as per their budget and need is still a challenge through brick and mortar stores.
How to purchase a mobile phone from True Balance app?
Step 1: Download True Balance app from the Google Play Store / App Store
Step 2: Navigate to ‘Mobile Phones’ section and explore a range of mobile phones that are listed there.
Step 3: Select the model and click on ‘Buy Now’.
Step 4: Choose the payment method and make the payment.
Step 5: Upon successful transaction, your order will be confirmed
True Balance also provides cashback offers along with the purchase. However, the order cannot be canceled once the payment is done as the shipping process starts, according to the company. The app also suggests users check the cancellation policy, terms and conditions before placing an order.
Commenting on this, Charlie Lee, Founder, True Balance said:
The number of smartphone users in India is estimated to reach 468 million and hoping the number to increase by next year (AASOCHAM-PwC joint study). India is second in terms of using smartphone, but majority of our rural population is still not using smartphone or only using feature phones. With the launch of our e-commerce platform we have expanded our service offerings for India 2 and India 3 customers. The move is in line with our brand philosophy of providing financial services and empower India beyond the metros and create greater financial inclusion. Handsets is first of many product categories that we look to launch for our customers ranging from mobile accessories, small electronics to FMCG soon.