Has anyone actually seen this mythical consent screen where @Truecaller asks you for consent to read your SMS?
@Truecaller Somehow missed this gem earlier from the TrueCaller T&C, which mentions Walnut as their Credit Partner.
They literally define Walnut as the "Credit Worthiness" partner.
TC: We ask for consent when you apply for a loan. You can't apply unless you are eligible.
Also TC: We will read your SMS to decide if you are elibible for the loan.
(╯°□°）╯︵ ┻━┻
@daamitt, your earlier statement of Walnut being just a TSP is very mis-leading, since the Loan Provider here is @CapitalFloat (which owns @getwalnutapp, right?)
getwalnut.com/tc-terms
@daamitt @CapitalFloat @getwalnutapp If you haven't been following the saga, the gist is:
TrueCaller isn't offering loans. They are offering your data to @CapitalFloat using @getwalnutapp's SDK. If Walnut's SDK says you are eligible, TC acts as a "Intermediary Platform" to facilitate the loan.
Always read the T&C.
@daamitt @CapitalFloat @getwalnutapp This would all have been so much easier if the journalists covering the TrueCaller Loan announcement asked these 2 questions:
1. Who is your Banking Partner?
2. How is Loan Eligibility decided?
If you are a journalist, please reach out to TrueCaller for a demo of the Loan Disbursal flow.
Ask them to activate it on your account, so we can figure out how they take consent after deciding eligibility?
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