TOPPAY launches cardless EMI facility for smartphone purchases

Chinese financial service provider TOPPAY will offer an EMI (installment) facility for purchasing smartphones from various brands without a credit card. The company believes this initiative will provide Bangladeshi customers with a simple, hassle-free, and convenient mobile purchasing experience.

In a press release, TOPPAY stated that its main goal is to ensure financial benefits for more people through easy payment facilities. From now on, customers will be able to buy mobile phones from various brands in easy installments without a card, and upgrade devices regularly if they wish. This will eliminate the need for a credit card and reduce the hassle of making large one-time payments.

The company believes this initiative will make modern smartphones more accessible. Being able to buy a phone in easy installments will allow more people to use smartphones. It will particularly simplify the use of new technology for youth and professionals. This will increase the use of digital services and help build a more connected, technology-reliant society.

TOPPAY recently commenced its formal journey in Bangladesh. At an inaugural event at its Gulshan office, the company announced partnerships with mobile brands OPPO, realme, and OnePlus.

At the event, TOPPAY CEO ChenFei said, "We have invested Tk 350 crore in this sector and plan to invest another Tk 2,500 crore in the coming years. Our goal is to serve more than 1.5 million customers within the next three to five years. We will not only provide mobile financing but also engage in financial services, payments, social responsibility, and philanthropic work in the future."

He added, "TOPPAY aims to keep pace with Bangladesh's tech ecosystem and the evolving needs of its customers. We want to not only change the way mobiles are bought but also play a role in the country's economic development and digital transformation."