In this article we tell you about the new Kiwi releases. Announced the introduction of the Kiwi credit card platform, a comprehensive consumer solution “Credit at UPI”. As the first NPCI certified app in India, Kiwi will enable users to enjoy “Credit on UPI” by issuing Rupay cards in collaboration with banks. Customers on the waiting list will receive flat rates of 2% and 1% refund respectively. The Kiwi app is scheduled to launch in mid-May, but users can already register there and get on the waiting list. Kiwi RuPay credit card users will be able to make UPI payments. In 18 months, management aims to employ 2 million users.
KIWI Axis Bank RuPay Credit Card Explained
With the launch of its mobile app, which allows users to pay securely with a credit card or bank account via their phones, the company hopes to establish one of the largest direct-to-consumer (D2C) models in the market. credit. With more than 30 million unique users and 5 million registered merchants on the network, UPI has become the most inclusive payment method in India, according to Siddharth Mehta, co-founder of Kiwi. With the launch of the Kiwi app, users can now combine the power of a credit card (RuPay) with the convenience and ease of UPI for the first time in India. Over the next 18 months, our goal is to enable 1 million users to access credit through UPI.
New Zealand users will receive an instant digital RuPay credit card. After receiving the card, users can link it to UPI in the app and use the “Credit at UPI” transaction option at online and offline merchants. With various tools like limiting cards, increasing limits and paying with cards while rewarding users for each transaction, the Kiwi app will also help users to manage their cards.
According to Praveena Rai, COO of NPCI, Kiwi “will be a game changer in the Indian credit card industry as we move closer to achieving the ‘Digital Payments for All’ goal. With around 3.2 lakh crore or around 2.5 times more money spent on UPI P2M transactions each month than credit card transactions, Kiwi is poised to tap into a large untapped market. We are confident that Kiwi’s approach will accommodate the significant number of Indian credit card users on a daily basis based on the gap Kiwi is targeting. So this was all about this case. Therefore, follow the PKB news.
Categories: Trends
Source: HIS Education