Indian fintech PhonePe has introduced a new credit section on its mobile application, allowing users to access their CIBIL score effortlessly. The credit section is now visible on the PhonePe app’s homepage, enabling users to check their credit scores, manage credit cards, and make timely credit card bill payments. According to PhonePe, credit bureau reports offer users insights into credit usage, credit age, on-time payments, and more.
Hemant Gala, CEO of PhonePe Credit, expressed enthusiasm about the launch, emphasizing the company’s commitment to meeting the diverse credit needs of consumers. The newly added feature allows PhonePe users to check their CIBIL score for free, providing detailed credit insights such as credit transactions and payment history.
Key Features:
- Free Credit Score Check: Users can check their CIBIL score free of cost, gaining insights into credit transactions and payment history.
- Loan and Bill Payments: The credit section facilitates convenient payment of both loans and bills directly through the app, streamlining the credit card payment process.
- Credit Card Management: Users can efficiently track credit card expenses and manage cards in one place, aiding in improving credit utilization and ensuring timely credit card bill payments.
PhonePe has hinted at future plans to introduce consumer loans within the app, signaling an expansion of its credit offerings to address diverse financial needs.