EarlySalary and Niki.ai Introduce New Shopping Chatbot with Pay-later Option
- Will help its customers to carry out hassle-free transaction like booking cabs, plan travel or pay bills using EarlySalary credit & pay using pay-later or EMI option
- Allows its customers to make instant bookings for movie tickets, travel tickets, hotels and pay their utility bills via a simple conversational user interface
- With India’s 1st FinTech Start-up EarlySalary, Ultra Short Term Loans on Mobile Apps are becoming a fast reality for Millennials and Gen Z
- EarlySalary is the only lender which helps young working professionals get access to credit without Credit Bureau history, boosting their financial confidence
EarlySalary, India’s first FinTech start-up to offer Instant Salary Advances & Short terms loans has tied up with India’s leading Artificial Intelligence firm Niki.ai, to offer its customers a simple and easy to use chatbot to shop for products and services whilst using the EMI option.
EarlySalary and Niki.ai will help in simplifying the shopping experience by permitting the whole ordering process on chat itself. This collaboration will not only result in a hassle-free experience, but will also allow users to opt for the pay later facility while picking services like – mobile phone recharge, cab booking, utility bills, laundry, hotel bookings, making party bookings, etc. Moreover, this partnership will also eliminate the need for downloading multiple e-commerce apps by providing a smart one-stop-shop for ones needs.
‘Niki’ developed by a group of four IIT graduates, is an artificial intelligence based bot that works as a smart personal assistant. The user interface is quite simple and intuitive. The conversations between the user and bot are prompt and in real time which don’t require any human intervention. This makes Niki the only fully automated bot to handle end-to-end transactions.
Given the high rate of internet penetration, shopping apps are becoming a new-age trend in India. Besides, demonetization has led to an increase in the number of users shopping online and over two million young Indians are now buying products and services online. Also, as per a recent survey by Criteo – the performance marketing technology company, about 74 per cent of Indian mobile users have installed two to five shopping apps on their smartphones. The survey further divulged that about 80 percent of the online shoppers now find mobile shopping more secure. A conversational interface only makes it easier, since everyone is already habitual to using messaging apps today.
Elaborating on this new partnership Akshay Mehrotra, Co-Founder & CEO at EarlySalary commented, “At EarlySalary, tech innovations have always been our chief focus. With this association, we are aiming to offer our customers convenience through simplifying their everyday lives by way of revolutionizing the entire online experience. We see a good benefit in using artificial intelligence for intuitive customer interaction & lending. At EarlySalary we aim to position ourselves as the first line of credit for the young working Indians, hence partnerships like these take us one step closer to this goal”.
Commenting on the partnership, Sachin Jaiswal, CEO at Niki.ai said, “This partnership revolutionizes the shopping experience for Indian customers. They can now simply chat with Niki for various services like they do on a messaging app & pay later using EarlySalary credit. With a very simple SDK integration, all the 20+ commerce services of Niki are now available within the EarlySalary app environment. Moreover, the experience of transacting over simple conversations is ideal for the EarlySalary customer, would lead to an increase in customer satisfaction, repeats, retention, and increased revenues for our partner. This is just a beginning of the partnership for the 2 AI firms, and we hope to create a much bigger success story with EarlySalary in the time to come”.
EarlySalary as a company has always tried to use technology in a way that helps in providing the best possible experience to its customers.
Founded by Akshay Mehrotra and Ashish Goyal, EarlySalary is a mobile app which allows salaried individuals to avail instant loans for an average tenure of 30 days or till the next salary cycle. These loans are similar to salary advances or credit card cash withdrawals, empowering consumers with ready cash when it is most needed. The company conducts prudent risk assessment by leveraging social profiling to go beyond financial underwriting and IndiaStack. Initially operating in 8 metros, EarlySalary is now catering to working professionals in 15 cities across India and seen over 1.4 million customer downloads. The company has been working on introducing multiple products, line of credit functionality, EMIs and other products focused towards helping young working professions with credit needs.
- Instant Salary Advance up to 50% of monthly Salary in less than 10 minutes
- Super fast: 70% loans are granted in less than 10 minutes
- Instant Cash: Salary advance/cash loans transferred to bank anytime instantly
- Short duration: Cash loans from 7 days up to 30 days
- Instant Transactions: From Rs. 8,000 to Rs. 1 Lac cash transferred to the customer’s bank account
- Shop now and pay later – ability to use the loan limit to shop online on credit
About the Senior Management
Akshay Mehrotra, CEO: Previously served as the Chief Marketing Officer at Big Bazaar, Future Retail Limited. Also worked as CMO at PolicyBazaar.com and Marketing Head at Bajaj Allianz Life Insurance.
Ashish Goyal, CFO: A chartered accountant by education and previously served as the Chief Investment Officer at Bajaj Allianz General Insurance.
Vimal Saboo, CBO: Previously served as the Business Head of Edelweiss Capital and also served in senior roles at Axis Bank.
Vivek Jain, CTO: Previously served as the Principal Technology Architect at Infosys.
For more information please visit www.earlysalary.com
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The company provides a simple and easy to use chat interface to shop for numerous products and services like movie and bus ticket booking, hotel and cab booking, utility bill payments, mobile recharges, local deals and laundry service, to name a few. To the businesses, it provides a plug and play technology in the form of Niki SDK that can be easily integrated everywhere including operating systems, on messaging platforms like Facebook Messenger, and on the brand’s applications (app and web).
Started in 2015, and backed by Mr. Ratan Tata, Unilazer Ventures and SAP.iO among other investors, Niki.ai envisions to provide one shop for everything commerce. Niki makes the whole journey from discovery to transaction fast, convenient and extremely simple. With a 55% month-on-month revenue growth, the company has 50+ partners on board, with many more in the pipeline.
For more information please visit https://resellers.niki.ai
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