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Mobile Payments

Major Indian marketplace integrates Samsung Pay

Monday 15 July 2019 | 10:45 AM CET

Samsung Pay has received a feature update in India, which allows users to apply for credit card and personal loans through Paisabazaar.

The implementation of Paisabazaar within the Samsung Pay has brought minor changes into the app - now it includes a link to Paisabazaar’s online form for credit card applications and loans. It’s not truly a fully in-app solution, but more of a simple way for Samsung Pay to make it easier for users to access the financial service’s online forms.

Paisabazaar is India’s largest online marketplace and compare tool for loans. Paisabazaar introduced its “Chance of Approval” predictive algorithm late in December 2018 aiming to increase the acceptance rate for applications. The algorithm takes into account the user’s profile details including income and credit score. It then tries to present credit card and loan offers that are more likely to being approved.

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