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Business Spotlight

Empowering Indians With Instant Digital Payments: Introducing RING, The Consumer-First App

RING provides young Indians with easy credit so they can live without limits. A young woman enters a supermarket to buy food with a credit limit. She uses her RING app to scan the merchant's QR code because she hasn't yet received her pay check. She may easily buy groceries after entering her protected PIN, which transfers her credit to the store.

Pay with RING
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Millions of Indians now have access to transactional credit thanks to the 2022 release of the consumer-focused digital payment app RING.

Users of the app can transfer their RING credit to their bank or use it to make both online and offline payments. The made-in-India app may help aspirational millennials quickly fulfil their needs. An NBFC (Si Creva Capital Service Pvt. Ltd.), which is registered with the RBI and assures quick credit and straightforward payment options, is offering credit through a 100% digital process.

Feature-Packed RING Enables Quick Transactions:

The app offers the following features to help tech-savvy users make quick and easy transactions without any hassles.

● Send money directly to any bank account with the bank transfer option

● Scan QR codes to make quick online and offline payments easily

● Store credit on your phone – no need to carry physical cards or cash

● Get a Power Loan up to INR 2 lakh in under five minutes

● Enjoy rewards, cashback offers and benefits after every transaction on the app

The RING Credit Underwriting Model:

With its own credit assessment mechanism, the RING app contributes to loan provision. It takes into account the borrower's digital and virtual footprints and profile information. Additionally, they assess the applicant's credit bureau information using AI, machine learning, and cutting-edge technology. Due to technology, RING is able to provide best-in-class credit facilities to people who might not otherwise have access to them.

Get RING Credit – The Easy Way:

Getting credit with RING is quick and easy. Users have to:

● Scan the welcome QR code to install the app

● Enter the required amount to make the payment

● Provide their contact number and PAN details to register

● Accept the offer and start using the LIMIT

Diversifying the Business: From Credit to Loans

As a result of the success of its credit approach, RING decided to get into the personal lending business. Customers with strong credit can apply for loans between INR 30,000 and INR 5,000,000 through the special Power Loan programme. Customers that have been trustworthy and with RING for two years are pre-approved. They can submit an entirely digital loan application, which includes a quick KYC check and swift deposit of the requested amount into their bank account. Customers of RING can prepay the loan without concern for additional fees or charges in order to raise their credit score.

Who Is Eligible to Get Credit with RING?

Every Indian citizen can register for a credit limit with RING. Users can get a credit limit of up to INR 35,000* in under two minutes!

Living Limitless with RING

RING provides young Indians with easy credit so they can live without limits. A young woman enters a supermarket to buy food with a credit limit. She uses her RING app to scan the merchant's QR code because she hasn't yet received her pay check. She may easily buy groceries after entering her protected PIN, which transfers her credit to the store.

Putting People at the Forefront

Indians, who frequently go unnoticed by conventional processes, are helped by RING. By choosing to retain collections in-house, the company demonstrated that people are at the centre of all they do. The priorities of each client are given first priority by RING's collections team.

Looking After the Environment and Team

The RING team is an advocate of sustainable practices. The company joyfully planted many trees in the Sundarbans to keep the country as clean and green as possible. The people are RING's most important resource. By promoting diversity and providing equal opportunities for all employees, they have developed an inclusive culture. The company was given the Great Place to Work designation in 2022, demonstrating its commitment to employee welfare.

Since its start in 2022, RING has grown stronger and more powerful. The programme, which has around 10 million downloads and 5 lakh registered merchants, provides quick and easy transactions for millions of individuals throughout India.