customer story
Mahindra Finance increases EMI payments on BBPS by 120% with Setu BBPS BOU
EMI collections on BBPS up 120% — from 4,000 to 25,000 transactions a month.
company
Mahindra Finance
Industry
Lending
“EMI repayments through BBPS have increased 120%. Working with Setu to get listed on the BBPS network was smooth!”
Rajesh Thattikonda
Manager—Operations, Mahindra Home Finance
For more than two decades, Mahindra Finance, one of India’s largest diversified NBFCs have empowered the lives of millions of Indians by providing access to myriad financial services and products. MF provides financing of vehicles, equipments, SME financing services. They also undertake in mutual fund distribution, fixed deposits and personal loans tailor-made to serve their large customer set. MF has a huge number of borrowers who make monthly EMI payments to the company. Collecting a large number of these payments can be a truly challenging task and an overhead burden for any NBFC.
Need text for this Setu helped Ujjivan lead a campaign to increase awareness about digital loan repayments via BBPS
Lending collections using—
[Setu BBPS BOU
Collect repeat payments digitally or offline](https://setu.co/payments/bbps/bou/)
The challenge
Mahindra Finance wanted to list themselves on the BBPS network and enable their borrowers to repay from any UPI app.
Our solution
Using Setu BillCollect, Mahindra Finance could on-board themselves on the BBPS network in just a few days. Setu’s clean and developer-friendly APIs were easy to consume and Mahindra’s team completed the Integration without any hiccups. Setu’s tech team assisted Mahindra to test Integrations and worked closely with them to scale BBPS transactions after they were on-boarded.
The impact
Mahindra Finance’s borrowers are now able to repay their dues in just a few clicks from any of their favourite UPI apps. Collections on BBPS for Mahindra Finance have been increasing month-on-month. From 4000 transactions per month to 25000 currently. A massive 120% increase!
Collecting EMIs has just gotten easier!
Rajesh Thattikonda
Manager—Operations,
Mahindra Home Finance
Another Success Story
