Nokia revolutionises smartphone shopping with HMD Easy Pay in India

Nokia HMD Easy Pay: HMD Global has joined forces with DMI Finance to offer customers to purchase Nokia smartphones with a no-cost EMI payment option.

Prateek Gautam Last Updated : 27 October 2023, 04:11 PM IST

Courtesy: Nokia

Nokia HMD Easy Pay: In a groundbreaking move, HMD Global, the company responsible for Nokia-branded phones, has unveiled HMD Easy Pay, a smartphone financing solution in India.

Amid the rumours of Nokia Magic Max, HMD Global has joined forces with DMI Finance to offer this innovative scheme, allowing customers to purchase Nokia smartphones with a no-cost EMI payment option.

A Hassle-Free, Paperless Process

HMD Easy Pay introduces an entirely paperless process that extends a line of credit to customers. HMD's objective is to make Nokia smartphones accessible to a broader audience.

Simplified Smartphone Purchases

HMD Global envisions a simplified smartphone purchasing process with the HMD Easy Pay program. It aims to cater to first-time credit buyers, making it effortless for them to acquire a Nokia phone. The scheme is easily accessible, providing customers with a convenient no-cost EMI option for buying Nokia smartphones.

Key Requirements for HMD Easy Pay

Customers must meet certain criteria to take advantage of the HMD Easy Pay financing option:

The customer should be at least 21 years old.
Valid Aadhaar and PAN cards are mandatory.
The customer must have a bank account registered in their name for EMI payments.

The eKYC process will require users to submit these documents when opting for HMD Easy Pay. After successful verification, customers can access consumer loans to purchase any Nokia smartphone.

Available for Select Devices, More to Come

Currently, the HMD Easy Pay financing service is available for specific devices, including Nokia G42 8/256GB, Nokia C32, Nokia C22, and Nokia C12 Pro. HMD Global intends to expand this offering to include other devices in the near future.

Efficiency and Quick Approvals

According to HMD Global, the entire process takes less than 2 hours. After approval, the seller receives instant payment, ensuring a seamless experience for their partners.

Loan Visibility and Regulatory Compliance

It's important to note that this loan will appear on the user's credit report. DMI Finance holds the authority to approve or decline the HMD Easy Pay financing option for any customer. DMI Finance is a Delhi-based RBI registered NBFC with a valuation exceeding Rs 4,500 crores.

Safety Measures with HMD Soft Lock

HMD Global has prioritized user and lender security under this scheme. HMD Easy Pay is equipped with the HMD Soft Lock feature, a software-based security tool that monitors the customer's EMI payment schedule.

In the event of a missed EMI payment, the company will promptly notify the customer. Failure to pay within a specified period will result in HMD Global remotely locking the device, rendering it unusable. Once the outstanding EMI is paid, the Nokia phone can be used normally.

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Nokia revolutionises smartphone shopping with HMD Easy Pay in India

Nokia HMD Easy Pay: HMD Global has joined forces with DMI Finance to offer customers to purchase Nokia smartphones with a no-cost EMI payment option.