The Jakarta Post
Xiaomi says the platform was created with the aim of giving choices to young professionals who want to apply for personal loans quickly and easily. (Shutterstock/Mehmet Cetin)
Chinese smartphone manufacturer Xiaomi has officially launched loan services platform Mi Credit, with lenders registered under the Financial Services Authority (OJK) and Bank Indonesia (BI).
As reported by kompas.com, Xiaomi said the platform was created with the aim of giving choices to young professionals who wanted to apply for personal loans quickly and easily.
"Xiaomi aims to give a comprehensive mobile internet experience to our users," Xiaomi South Pacific Region and Xiaomi Indonesia manager Steven Shi said in a statement.
Only users with MiUI version 8.5 and above can access and apply for loans through Mi Credit. Once the loan application is lodged, data and verification processes are carried out by a partner service chosen by the company.
Through Mi Credit, users can obtain loans ranging from Rp 1 million (US$70.60) to Rp 2 million through lenders, including GoRupiah, BosPinjaman and PinjamanGo.
After selecting the loan service provider, the user is presented with various terms that need to be met, as well as other details. Upon agreeing, the user is taken to an application page owned by the loan provider. (liz/kes)
Paragraph five in this article has been corrected.
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