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METRO Cash & Carry India, Chqbook.com to offer SMEs financial services
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Friday, 03 August, 2018, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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METRO Cash and Carry India has entered into an exclusive partnership with technology start-up Chqbook.com to offer a wide range of financial products and solutions to kirana shops and small and medium enterprises (SMEs). These are for the retail major’s transacting customer base of over three million in its 25 wholesale stores across the country.
The initiative will give SMEs access to the best rates, lower fees and more cash-backs on credit and debit cards with exceptional customer service.
Commenting on the strategic alliance, Arvind Mediratta, managing director and chief executive officer, Metro Cash & Carry India, said, “We are committed to deliver tremendous value to our SME and kirana value chain. The Government of India has paved the way for a Digital India through its numerous initiatives and schemes for SMEs.”
“Our partnership with Chqbook.com will provide a large financial marketplace to our three million customer base. It has been our constant endeavour to deliver the best technological and financial support to SMEs to augment the efficiency of their business operations. This partnership is aligned with our mission statement of being a Champion for Independent Business, as we firmly believe that we are an integral part of their growth and success story in India,” he added.
Chqbook.com’s marketplace will provide financial services to Metro customers in the business-to-business (B2B) sector exclusively. It brings competitive rates and fees from 40-plus banks, non-banking financial companies (NBFCs) and credit card companies, allowing easier comparisons, instant eligibility checks and quick approvals. It also operates a network of 400-plus experts across 15-plus cities in the country to provide appointments within four hours for document pick-ups and same-day or next-day approval for loans and credit cards. Chqbook.com will work with banks and payment providers to bring cash-backs, zero-EMI products and pay-later schemes, making purchasing at Metro seamless and helping SMEs and others save financing costs.
Further, it will also offer pre–approved products for Metro customers across home loans, business loans, personal loans, insurance, credit cards, and other financial services. It is a recommendation algorithm that automatically suggests the right products between various categories, giving customers instant approval, paperless documentation and a digital on–boarding experience resulting in quick disbursals and issuance.
“Our technology, understanding of the financial services sector and customer service are the cornerstone to create a financial service platform. With Metro, we have found a partner who champions the cause of independent businesses similar to our own mission. This alliance will help both existing and new customers as they will benefit from the cashback programmes, personal finance, insurance and a range of products and solutions,” said Vipul Sharma, managing director and chief executive officer, Chqbook.com.
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