ZeroPay: To provide hassle-free medical loans, BharatPe co-founder Ashneer Grover is all set to launch a new fintech application called “ZeroPay”.
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The app is currently in testing mode and it was developed by the Third Unicorn, a company that was established by Ashneer Grover and his wife Madhuri Jain Grover in partnership with Chandigarh-based entrepreneur Aseem Ghavri after leaving BharatPe. The third unicorn’s most recent launch was “Cricpay,” a fantasy gaming platform, in 2023.
A lot of companies like Arogya Finance, Qube Health, and others are offering services in medical bill finance. ZeroPay will become the latest company to join the growing list of businesses that offer instant financing options for medical bills and other elective procedures. India’s medical sector has been attracting a lot of investment in recent days. According to a joint report by Singapore-based venture capital firm B Capital and consulting firm Boston Consulting Group, India’s digital healthcare market could generate $37 billion by 2030.
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How does ZeroPay Function
In collaboration with Delhi-based non-banking finance company (NBC) Mukut Finvest, Zeropay will offer instant pre-approved medical loans of up to Rs 5 lakh to cover medical expenses. According to the company’s website, this service can be availed only at participating hospitals and medical centers.
The fintech company will also assist customers in keeping track of their upcoming EMIs and payments. Anyone can get a medical loan through its user-friendly interface. To acquire a pre-approved loan limit, the customer must first finish the KYC procedure. The KYC documents required are an Aadhaar Card Number, PAN, and phone number.
After completing the KYC process, the individual must choose a healthcare facility where Zeropay’s loan services are available.
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The customer can now enter the loan amount and arrange the EMI according to their convenience. After that, the company will approve the loan amount to the hospital chosen by the user.
