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How Fintech Apps are Changing E-commerce

By Finserv MARKETS - Feb 3,2020
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How Fintech Apps Are Changing E-commerce

Digitization has heavily influenced the Banking and Finance Sector in recent years. Nowadays, various financial institutions are using Fintech apps for leveraging their services with customer satisfaction. Fintech apps generally focus on providing credit and non-traditional financing arrangements to small businesses and start-ups. Apart from banking, various other industries such as real estate, healthcare, e-commerce, etc. have also started making use of Fintech applications to provide efficient and reliable service to their customers. Some of the prime examples of Fintech apps are crypto-currencies, e-wallets, and mobile payments. Let us have a look at how Fintech Apps are changing e-commerce:

Fintech apps and Ecommerce

  • Fintech apps have hugely influenced e-commerce by improving the online payment system. These apps can be used as an alternative payment option if the consumer doesn’t have a credit card, debit card, or a bank account. Fintech apps have also made cross-border e-commerce very convenient. International money transfers can be done conveniently by using Fintech apps such as PayPal, Apple Pay, or Google Wallet. The integration of various online payment platforms such as Google Pay, Amazon Pay, etc. with e-commerce platforms has improved the effectiveness and security for e-commerce. Also, the introduction of Fintech apps in e-commerce has given birth to new payment companies like PhonePe, PayZapp, etc.
  • Due to the increasing competition in the finance sector, customer engagement and retention has become difficult for financial institutions. Therefore, a lot of financial institutions are making use of Fintech apps to make online shopping far more convenient for consumers. It has been observed that financial companies with Fintech apps are engaging with customers much better.
  • Fintech apps have helped e-commerce companies to increase their productivity and accessibility. This has paved the path for the long-term growth of various e-commerce organizations. The smooth experience which the customer gets during online shopping is the key factor that has led to the success of Fintech in e-commerce.
  • Nowadays, you can easily purchase any product online and pay for it through easy EMIs. For instance, if you purchase an iPhone, you would get the checkout option to avail an instant personal loan to pay for your iPhone. You can easily avail the loan and opt for an affordable EMI to make the repayment in a hassle-free way. Also, you can make use of Fintech apps to get your iPhone insured.

To sum it up, there has been a drastic transformation in e-commerce due to the introduction of Fintech apps. Fintech apps have improved e-commerce and helped in expanding the outreach of e-commerce to a great extent. Trading has become easier and more convenient than ever before. Customers across the world are enjoying this change and making the most of it while shopping online.

Finserv MARKETS app is one such finance app that can help you make an online payment, avail loans, purchase insurance, make investments, etc. in a convenient way. You can check your credit score by using this app. Moreover, you can use this app to purchase digital EMI card, which will enable you to buy the latest smartphones, laptops, etc. at no cost EMI. You can also use the Finserv MARKETS app to carry out online transactions with the help of UPI handle. You can easily send and request money from friends, family or pay merchants by using this app. This app is available on both Android and iOS Platform. You can easily download it on your smartphone and avail the various financial services with ease.

Now that you are well-aware of the benefits of the Finserv MARKETS app ensure that you make the most of it to fulfil your financial and lifestyle needs.

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522