MAM

True Balance &Shopclues Come Together To Bring E-Commerce To 1 Billion Unbanked Indians

expectsGTV contribution and Order Value to grow over 2X

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/03/16/shopclues.jpg?itok=7JKFEFvV

MUMBAI: Indo-Korean fintech leader, Balance Hero that operates True Balance and True Credits today announced their associations with ShopClues,the online marketplace that primarily caters to buyers and merchants in Tier II/III/IV cities and beyond, by signing an MOU for an exclusive partnership based on the synergy of their respective target audience. The move is intended to bring to True Balanceusers, unparalleled access to ShopClues’ products across categories such as fashion, electronic, home & furnishing, accessories and kitchen. ShopClues will offer the unbanked True Balance users access to more than 8mn SKUs ranging from INR 50 - INR 10,000 across categories such as fashion, electronic, home & furnishing, accessories and kitchen. True Balance users who do not have debit and credit cards to make payments for their purchases on ShopClues can now do so through the app on their phones. 

Through the partnership, True Balance would like to bring to its users an expanded product line via e-commerce, clubbed with the EMI options payable across 3 to 6 months having monthly interest of upto ~6%. 

Speaking of the partnership, Mr. Victor Choi, CEO Balancehero, India said, “At True Balance, we foresee great growth in the EMI space and firmly believe that we will be able to bring ShopClues to our strong reseller community and digital lending platform.Through this partnership, we will be able to acquire more commerce products while also generating robust growth in revenue. We strongly believe that additional product segment, especially Fashion and Home & Kitchen, should help accelerate the revenue growth.”

“In this partnership, ShopClues will be handling the product portfolio and the logistics aspect whereas True Balance will be responsible for the Financial Solution”, Mr. Choi further added.

“Both True Balance and ShopClues have a similar market focus. This association is a win-win for all parties involved. While more people from rural India will be encouraged to shop online using the True Balance app, we, at ShopClues, will be able to expand our customer base. We will be able to take our products to more consumers who are currently facing difficulty in accessing the formal financial system due to time-consuming and complicated banking processes,’’ said Sanjay Sethi, CEO, ShopClues.

True Balance is a digital financial platform focusing on unbanked population bringing solution on last mile issues. Growing at a monthly rate of 30%, the company’s revenue is projected to grow by 10 times this year as compared to previous year.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/ruder-finn.jpg?itok=U2xrGh_3
Ruder Finn bags communications mandate for WazirX NFT Marketplace

Integrated communications consultancy Ruder Finn has been entrusted with communications mandate for WazirX NFT Marketplace - a homegrown non-fungible tokens (NFTs) marketplace.

MAM Media and Advertising Account
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/click.jpg?itok=nh5Qywq7
Optiminastic Media launches digital influencer marketing platform Click2Collab

Digital marketing agency Optiminastic Media has announced the launch of Click2Collab, a tech-based influencer marketing platform.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/dentsu-x-logo.jpg?itok=cQxfymlK
dentsu X recognised as Indian agency with ‘highest quali-points growth over 3 years’: RECMA

RECMA, the independent research firm that evaluates media agencies, has recognised dentsu X, the media agency from the house of dentsu India, as the Indian agency with the highest quali-points growth over three years.

MAM Media and Advertising AD Agencies
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/zebpay.jpg?itok=KHFeyN6g
ZebPay appoints Tarun Jain as chief financial officer

Mumbai: Homegrown crypto-asset exchange ZebPay has announced the appointment of Tarun Jain as its chief financial officer (CFO). In this role, Jain will shape the strategic and long-term financial direction of ZebPay’s business. He will work closely with the leadership team to scale the...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/vector-team.jpg?itok=HDSRHAG0
Vector Brand Solutions announces its operating leadership team

MUMBAI : Vector Brand Solutions on Tuesday announced its operating leadership and appointed Tushar Bhatia, Ripanka Kalita and Mandar Gore to lead business, creative and strategy respectively.

MAM Marketing Brands
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/hrithik_roshan-flamingo.jpg?itok=uwMFg2Zq
Flamingo launches new ad campaign with Hrithik Roshan

Mumbai: Flamingo, the flagship consumer healthcare brand of Ascent Meditech has kickstarted a 360-degree campaign with actor Hrithik Roshan. The brand has launched three TVCs, with each TVC showcasing brand partner Hrithik Roshan using one of Flamingo's hero products – Heat Belt, Knee Cap and...

MAM Media and Advertising Ad Campaigns
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/tute.jpg?itok=PzLSO3q7
Tute Consult partners with health & glow to lead its communications mandate

Health & glow, a homegrown beauty and personal care destination has appointed Tute Consult, an integrated communications firm as its communication partner for driving a two-fold communications strategy for B2C and B2B stakeholders.

MAM Marketing Brands
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/anushka.jpg?itok=vBrVjfDU
Anushka Sharma features in Rajnigandha Pearls’ latest TVC

Rajnigandha Pearls, a DS Group brand has launched its new TV ad campaign featuring its brand ambassador and Bollywood star Anushka Sharma. The film has been directed by Prashant Madan and produced by Show and Tell Productions Pvt Ltd.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/dnyaneshwar.jpg?itok=pcMo0MM5
Anand Gandhi's brand film for Vicks wins big at Creative Circle Gong Awards, Singapore

After a hiatus in 2020, the Creative Circle returned with the annual Gong Awards to celebrate creative excellence in advertising. The event held on Sunday in Singapore had set this year’s theme as Create/Change.

MAM Media and Advertising People

Sign up for our Newsletter

subscribe for latest stories

* indicates required