April 26, 2024

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Seoul-based financial technology startup Balancehero said on July 22 that it has mounted an e-commerce marketplace on its flagship fintech app, True Balance, targeting Indian consumers.

With the current version, mobile phones by Samsung Electronics -- midrange smartphones and feature phones -- are available for purchase on the e-commerce platform. Buyers on the platform can receive reward points for each purchase.

New products like mobile accessories, home appliances and groceries, as well as smartphones and feature phones of other makers, will be trading on True Balance.

Before the news, True Balance was known for allowing Indian consumers’ mobile prepaid billing management and mobile top-up payments. The app also shows the current balance, available mobile internet data and active packs without internet connection. True Balance customers may opt to pay a service fee first, and the balance within 14 days of the earlier purchase.

“We are on the move to give billions of the underbanked in India access to enjoy various financial services,” Balancehero founder and CEO Lee Cheol-won said in a statement.

Meanwhile, Balancehero is hiring server developers, Android app developers, product managers and product analysts.

By Son Ji-hyoung (consnow@heraldcorp.com)