Contact and Telda partner to offer Lending-as-a-Service solutions for consumers

By Delisha Fernandes

Contact CreditTech, a digital consumer financing arm of Contact Financial Holding, and Telda announced their partnership to offer a unique Lending-as-a-Service solution to all of Telda’s customers.

This partnership enables Telda users who are not yet consumer finance customers to apply and instantly obtain their credit limit approval, in addition to the normal approach of helping finance to Contact customers who are using Telda.

Ahmed Sabbah, CEO of Telda, said, “We are thrilled to partner with Contact to bring the Lending-as-a-Service solution to our customers. This collaboration enables us to provide instant credit options and flexible instalment plans, empowering users to enhance purchasing power and effectively manage expenses. At Telda, we are committed to innovation and delivering valuable financial solutions to our customers, and this partnership aligns perfectly with our mission.”

Lending-as-a-Service solution will enable Telda users to apply and obtain an instant credit limit provided by Contact to finance their purchases made with Telda. Customers can repay it over a tenure of up to 60 months, increasing purchasing power and allowing better control over their expenses.

Said Zater, CEO of Contact Financial Holding, said, “We will always use our expertise in the field to fill the gaps and deliver the best products and services consumers need. Through Telda’s collaboration, we are expanding our services to Telda’s customer base using the latest technologies in the lending sector. We lead the market and serve our partners with our unique Lending-as-a-Service solution. I am confident our lead in delivering what is new and different is inevitable as our focus is on availing innovative lending solutions that no other player provides and expanding it through our partnerships.”