The Busy Brains
4 Jun 2023
Discover Kiwi, India's pioneering credit card platform certified by NPCI. Experience the benefits of Credit on UPI with Rupay Cards in partnership with Axis Bank. Learn about its features and how it aims to revolutionize the credit card market.
Kiwi: Transforming Credit Cards with UPI and Rupay
Kiwi, the certified credit card platform by NPCI, introduces India's first app that enables customers to access Credit on UPI using Rupay Cards in collaboration with Axis Bank and other banking partners. Discover the exciting benefits of this innovative offering and how it is revolutionizing the credit card market.
Crafting a Direct-to-Customer Model
Kiwi aims to establish a massive direct-to-customer model in the credit card market. Through its mobile application, customers can securely make payments directly from their bank accounts or credit cards using their phones. No need to search further, as this article provides all the essential details you need.
Empowering Users with UPI and Credit Cards
Siddharth Mehta, co-founder of Kiwi, stated during the launch,
"UPI has become the most inclusive mode of payment in India, with over 30 crore unique users and 5 crore merchants onboarded on the platform."
Kiwi’s co-founder further added,
“With the launch of the Kiwi app, for the first time in India, users can now leverage the power of a (RuPay) credit card 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”
Digital Rupay Credit Card and Exciting Offers
Kiwi's users will receive a digital Rupay credit card instantly. By linking the UPI and Rupay Card through the mobile application, customers can take advantage of Credit on UPI offers and cashback. These offers are available both online and at offline stores. Additionally, the app allows users to manage their cards by setting limits, blocking the card, and more.
Game-Changing Potential in the Indian Credit Card Industry
Praveena Rai, the COO of NPCI, said,
“In our step towards attaining the goal of ‘Digital Payments for All’, Kiwi will be a game-changer in the Indian credit card industry. With the monthly expenditure on UPI P2M transactions amounting to approximately Rs. 3.2 lakh crore, which is almost 2.5x larger than the monthly credit card spends, Kiwi is set to capitalize on a significant untapped market. Looking at the whitespace that Kiwi is addressing, we’re confident that their model will support plenty of Indian credit card users on a daily basis.”