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Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru

EntrackrEntrackr · 2m ago
Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru
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Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru According to the company, the Slice UPI credit card comes with no joining or annual charges. Users can scan QR codes or make UPI payments to access their credit lines. Fintech company Slice has launched a UPI credit card and opened a UPI-powered physical bank branch in Bengaluru, following its merger with North East Small Finance Bank. The Slice UPI credit card offers up to 3% cashback on all spends and includes a feature called Slice in 3, allowing customers to convert purchases into three interest-free instalments. The newly opened branch in Koramangala includes UPI-integrated services, self-service kiosks, and a UPI-enabled ATM supporting deposits and withdrawals. Customers can also open accounts and access other banking products at the branch. Slice aims to integrate credit more closely with UPI and expand access to users outside the traditional credit ecosystem. Unlike most fintech companies that rely on third-party banking partners, Slice operates as a bank, controlling its infrastructure, including core banking systems and credit underwriting. Slice recently passed a resolution to rebrand North East Small Finance Bank as Slice Small Finance Bank. The merger was completed in October last year. In a media interview, Slice founder Rajan Bajaj said the bank has turned profitable on a monthly basis and the group aims to go public in the next three to four years. The Bengaluru-based company has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners. Tiger Global is the largest stakeholder, followed by Insight Partners.

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Unity Bank and BharatPe to launch EMI-driven credit card

EntrackrEntrackr · 4d 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.

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