On October 16th, Indian telecom giant, Bharti Airtel launched an Online Store that offers premium range smartphones with affordable down payment options. The smartphones would also be bundled with Airtel’s monthly plans. The Online Store is part of Airtel’s ‘Project Next’ – Airtel’s digital innovation programme aimed at transforming customer experience across all its services and touch points. The project will further see an investment of up to Rs.2,000 Crore over the next 3 years purposed with the launch of several exciting digital innovations.
On the announcement of the Online Store, Harmeen Mehta, Global CIO and Director, Engineering, Bharti Airtel had this to say, “Imagine getting your dream device, instant credit to purchase it and a great plan to go with it, all available in one place with a few clicks. All this is a product of some cutting-edge digital engineering by the in-house teams at Airtel. We would also like to thank our partners for integrating their APIs seamlessly with our platform to enable a great customer experience.”
The launch of the Online Store has seen multiple teams working in partnership with Airtel, to provide an easy and hassle free online process. The idea is to provide a seamless customer experience wherein the customer is not just adding the smartphone in his cart, but buying it outright with instant credit verification and financing. This is a pioneering step that amalgamates e-commerce and online financing.
Airtel has partnered with Apple, HDFC Bank, Clix Capital, Seynse Technologies (developers of Loan Singh), Brightstar Telecommunications and Vulcan Express, to enable exciting offers on its Online Store. The Online Store is set to serve customers in 21 cities across India further expanding to other cities and towns in due time.
Role of Seynse
The role of Seynse, in the partnership, has been to be the enabler of technology and credit underwriting
Credit underwriting, in simple terms, is the process of determining if the customer is eligible to avail credit; based on his/her financials. The customer’s Aadhaar and Seynse’ proprietary credit algorithm helps to assess creditworthiness and create risk profile for each Airtel subscriber.
LaaS (Loan as a Service)
Seynse has created a platform to provide complete digital loan lifecycle – from application to disbursement, including EMI repayment and managing fund flow. Seamless integration between participating entities makes the entire system sustainable and scalable.
What’s on Offer?
Airtel is currently offering the iPhone 7 and iPhone 7 Plus handsets through its Online Store. The iPhone 7‘s 32GB variant is available at a down payment of just Rs. 7777; with Rs.2499 as EMI for 24 months.
The monthly installment also includes the postpaid connection benefits such as
- 30 GB of monthly data
- Unlimited calling (local, STD, national roaming)
- Airtel Secure package (cover on smartphone for any physical damage, and cyber protection)
- Free Airtel connection for a family member
How Can You Get An iPhone 7 for just Rs. 7777?
The steps are mentioned below
- Go to Airtel Online Store
- Select the iPhone model and variant
- Pay Rs.7777 as down payment
- Get the phone delivered to your doorstep
- Pay Rs. 2499 every month for 24 months (this includes a fully loaded Airtel Plan)