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Unity Bank and BharatPe to launch EMI-driven credit card

EntrackrEntrackr · 1m ago
Unity Bank and BharatPe to launch EMI-driven credit card
Medial

BharatPe, a financial services and UPI payments company, has announced the launch of Unity Bank BharatPe Credit Card, in partnership with Unity Small Finance Bank (Unity Bank). The card brings industry-first features designed to make everyday payments including groceries, bill payments, travel, utilities, insurance premiums, and lifestyle spends, both online & offline, smarter and more rewarding. Offered on National Payments Corporation of India (NPCI) RuPay network, the card can be seamlessly linked to UPI, enabling secure and convenient payments across millions of merchants in India. With a zero-fee structure, the card does away with all hidden costs. There are no joining charges, annual fees, processing charges, or foreclosure penalties. Customers also enjoy the flexibility to prepay their EMIs anytime without penalties, making credit access transparent and stress-free. The card offers flexible EMI options of up to 12 months, helping customers manage big-ticket purchases with ease. What truly sets it apart is its unlimited flat 2% rewards (Zillion Coins) on every transaction upon EMI conversion, across all merchant categories and platforms, without restrictions. Zillion Coins can be redeemed via the BharatPe app for brand vouchers, products, or even to pay credit card bills. Kohinoor Biswas, Head – Consumer Business at BharatPe, said, “Our focus has always been to make access to credit simple, transparent, and inclusive. With the Unity Bank BharatPe Credit Card, customers get a truly lifetime free card with no hidden charges. Moreover, linking RuPay Credit Card with UPI opens a multitude of convenient payment options for cardholders.” In April, BharatPe’s subsidiary Resilient secured final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This makes BharatPe one of the few Indian fintech companies to hold an NBFC license (through Trillion Loans), a stake in a small finance bank (Unity SFB), and now a payment aggregator license. Currently, with a registered network of over 2.5 million merchants across over 450 cities, BharatPe processes more than 500 million UPI transactions per month. It processes payments of a monthly Transaction Processed Value of Rs 12,000 crore.

Pine Labs sees credit line on UPI as India’s next credit growth driver

EntrackrEntrackr · 14d ago
Pine Labs sees credit line on UPI as India’s next credit growth driver
Medial

Pine Labs sees credit line on UPI as India’s next credit growth driver India has 330 million credit-ready consumers but 150–200 million remain underserved, a gap that embedded credit products like CLOU aim to address. Pine Labs’ latest industry report, supported by McKinsey, points to “credit line on UPI” (CLOU) as the big growth driver for credit-linked payments at checkout, as India’s lending landscape undergoes rapid changes. By 2030, the report estimates, credit-linked payment products could generate as much revenue as home and auto loans. The push will be led by UPI’s 65 million QR-enabled merchants and digital-native customer base, with 490 million consumers already on UPI. Despite high awareness among the non-carded base, actual usage of products like BNPL or EMI on debit cards remains low, largely due to discoverability, acceptance, and trust issues. At present, consumers prefer credit options that are easy to access on familiar apps, simple to use, transparent, and widely accepted. CLOU’s pitch is to leverage existing QR infrastructure for small-ticket credit, which unlocks viable lending economics for banks and NBFCs. The product will allow lenders to offer customized propositions, improve risk management through AI-led underwriting, and scale via ecosystem partnerships. The report also flags the need for banks and tech players to invest in configurable, modern tech stacks and develop strong merchant and TPAP (third-party app provider) partnerships for adoption. The report further highlights that the next lending revolution is starting right at the checkout, with new credit products set to change the way Indians shop and borrow.

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