We live in an age of technology where everything is powered by technology that makes sure that you get things done in a jiffy. As much as our lifestyles have improved, subsequently our financial needs have also risen. There arise many situations in today’s busy man’s life where he is in need of urgent money. Gone are those days, when a person used to visit the bank and have a discussion with the bank officials, do some paper work; after which the banks do some background check of the user and then grant the loan amount. These fin tech companies are making the availing of loans a Cakewalk.
What is Paysense and why have they started their operations in Gujarat?
Paysense is an App that integrates the user with some of the financial lenders. The financial lenders can be any finance company or a big bank or sometimes even an individual who wishes to lend his money. The app gets all the details of the user and authenticates it within few minutes and sanctions the loan for the customer. Thus, this saves a lot of time and energy for those who need money for sudden unplanned expenses without any confusion.
Gujarat is a state known for providing some of the world’s best businessmen. There is also a young, dynamic crowd in the cities of Gujarat like Ahmedabad, Vadodara, and Gandhinagar due to the influx of a large number of IT companies. There are also many budding entrepreneurs in the state. Thus, these people would be in need of money and Paysense is here to provide loans for the duration for a month and upto5 years.
How does Paysense guarantee its lenders?
Fin tech apps like Paysense pulls in the customer activity by adjoining with the social media handles of the borrower. A company can learn about the activities of the customer and then use it for tracking as well as sanction of loans. The social media account tracking is just one of the other checks that these fin tech companies do.
How should a customer benefit from these apps?
One should always keep in mind that these apps are not here to provide money for one’s day-to-day expenses and it only grants for loan if it is a genuine reason. If one borrows a lot of money incessantly, then he would have to pay a large sum as interest. Thus, one should learn how to use the tech and how not to.
Paysense is here to help both the banks and the customers. It should be welcomed with wide arms in a business-friendly state like Gujarat.