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Jio Haptik and CASHe have teamed up to provide instant lines of credit on WhatsApp

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  • Jio Haptik and CASH partner to enable automated direct lines of credit WhatsApp.
  • This will help entrepreneurs and solopreneurs to access credit directly through WhatsApp.
  • Jio haptic and CASHe claim to provide revolving loans on WhatsApp in a minute.

Jio Haptik teamed up with financial wellbeing platform CASHe on Tuesday to enable instant credit line payouts on WhatsApp. Jio Haptik is a WhatsApp chatbot solution provider, which was acquired by dependent industries in 2019.

The predominant technology powering this solution is Haptik’s advanced conversational trading capabilities and CASHe’s AI-powered bot. The Whatsapp chatbot matches the user’s input and automatically facilitates a formal request, along with a Know-Your-Customer (KYC) check.

Once verified, it sets a credit limit with a few clicks through a guided conversation flow. The user’s details are generated and displayed based on the name entered – the only important entry the borrower needs to enter is at the beginning of the call.

“Haptik is delighted to partner with CASHe, India’s leading financial wellbeing platform, with the aim of helping borrowers access loans and credits seamlessly and in under a minute. Since our WhatsApp bot went live, CASHe has witnessed over 50,000 credit line issuances, over ₹25 crore in loan disbursements and more,” said Swapan Rajdev, co-founder and CTO of Haptik.

However, it is not the first time that an Indian company has offered loans via Whatsapp.
Last year IIFL Finance, a non-bank finance company, offered an instant loan disbursement of ₹10 lakh on WhatsApp, which users could access by typing ‘Hello’ in a chat box within five minutes.

However, Jio Haptik and CASHe claim to provide revolving loans on WhatsApp within a minute. Revolving loans offer more flexibility in withdrawals and repayments as opposed to traditional loans.

“With this solution offered, we have successfully adapted our lending model to adapt to the shifts in the lending space by offering instant sachet loans to existing and prospective borrowers through an engaging and conversational flow. The digital assistant on WhatsApp helps us to reach new customers and support the existing ones,” said Yashoraj TyagiCTO of CASHe.

Joe on Whatsapp

this August, Trust Retail launched a grocery delivery service called Jio on Whatsapp. In the last quarter of September, Reliance Retail said so JioMart on WhatsApp, 37% brought in orders from ‘new’ customers on JioMart.

“The company launched JioMart on the native WhatsApp app during the quarter, a new and groundbreaking initiative that brings the simplicity of instant chat service to the online shopping experience for millions of consumers. An impressive 37% of orders received through this platform come from new customers who have not shopped on JioMart before,” said Reliance.

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