Mumbai: Experian Credit Information Company of India Private Limited, the first CICRA licensed credit bureau to go live in India, announced the launch of two new payment options to allow consumers a convenient way to order their Experian Credit Information Reports (CIR). Experian’s latest initiative is an innovative option, breaking away from the older and more onerous payment option to order a CIR. 

Experian is the first credit information company in India to enable National Electronic Fund Transfer (NEFT) payment options which allows consumers to pay in cash at any one of 65,000 NEFT enabled bank branches across the country or to pay on-line using the NEFT enabled net banking service. This is in addition to the existing facility to pay using a banker’s draft.

For further details on the new payment options and how to order your Experian CIR, you can visit the Experian India website, www.experian.in or call the consumer support desk on +91 22 6641 9000.

The average Indian consumer, with limited or no access to a credit card or net banking, will find it extremely convenient to use this NEFT enabled payment option. Credit cards and net banking penetration is considerably lower as compared to the total banked population in India. According to the recent BCG-FICCI-IBA study on “Indian Banking 2020: Making the Decade’s Promise Come True”, internet banking penetration in India is limited to 14% for foreign banks, 7% for new private banks and 2% for PSU and old private banks.

Phil Nolan, Managing Director, Experian Credit Information Company of India Private Limited said, “Monitoring your credit information report on a regular basis allows you to take control of your finances. It has been our intent to make it convenient for consumers to access their Experian CIR. The initiation of two more, easier and faster modes of payment is our first step in that direction. NEFT makes it extremely convenient for virtually every consumer in India to pay for their CIR irrespective of whether they have access to the internet or not.”