Here we have a big update for you. Kiwi, which is a credit card platform, announced that the company is about to launch its credit card on UPI in the market. It will be an all-in-one solution for customers. How? We have answered and discussed all the must points regarding Kiwi credit card in this blog. “Kiwi” credit card platform is certified by NPCI and it is India’s first application that allows its customers to experience credit on UPI through its Rupar cards in partnership with banks including Axis Bank. Ever since the company announced the launch of its credit card on UPI, people have been eager to know what benefits come with it. If you’ve read this article, you won’t need to scrounge up another web article on the same topic. Please stay tuned for a while and complete it. Scroll down.
The KIWI credit card explained
The company aims to create a huge direct-to-customer sales model in the credit card market. So here is Kiwi’s mobile app that will allow customers to pay using a bank account or credit card directly via their phone in a secure way. Siddharth Mehta, co-founder of credit card company KIWI, said at the launch, “UPI has become India’s most inclusive payment method, with over 30 crore unique users and 5 crore in-app merchants on the platform”.
The Kiwi co-founder added, “With the launch of the Kiwi app, for the first time in India, users can now leverage the power of a credit card (RuPay) with the convenience and ease of UPI. Our vision is to enable access to credit on UPI for 1 million users over the next 18 months. According to the co-founder, Kiwi Credit Card users will instantly receive a Rupay digital credit card. Once the customer receives the digital Rupay credit card, he can link the UPI and the Rupay card via the mobile application in order to benefit from the credit offers on UPI and cashback. Scroll down the page.
Reportedly, cashback offers will be offered both in offline stores and online platforms. The app will also allow customers to manage their cards by setting card limit, blocking card, etc. NPCI Chief Operating Officer Praveena Rai said, “As we move towards achieving the goal of ‘digital payments for all’, Kiwi will be a game-changer in the Indian credit card industry. With monthly spending on UPI P2M transactions standing at around Rs. 3.2 lakh crore, almost 2.5 times more than monthly credit card spending, Kiwi stands to capitalize on a large untapped market. Looking at the white space Kiwi caters to, we are confident that their model will support many Indian credit card users on a daily basis.