UPI Credit Card Launch by Slice for Easy Banking

UPI credit card offerings from Slice are revolutionising the way users manage their finances. After its merger with North East Small Finance Bank, Slice has introduced a UPI credit card along with a UPI-powered physical bank branch located in Bengaluru.

The Slice UPI credit card stands out with no initial or recurring charges. Users enjoy the convenience of making UPI payments or scanning QR codes to tap into their credit lines. Notably, the card provides up to 3% cashback on all transactions. An exciting feature, Slice in 3, allows users to break down their purchases into three interest-free instalments.

New UPI-Powered Branch in Koramangala

The recently inaugurated branch in Koramangala thoughtfully integrates UPI services across various customer touchpoints. It features self-service kiosks and a UPI-equipped ATM for both deposits and withdrawals. Clients can also open new accounts and explore other banking products within the branch.

Revolutionising Access to Credit

Slice’s mission is to bridge the gap in credit access, connecting it more closely with UPI and reaching users outside the conventional credit landscape. Unlike many fintech firms that partner with external banks, Slice operates autonomously as a bank, managing its core banking systems and credit underwriting.

Company Developments and Future Prospects

Recently, Slices resolved to rebrand the North East Small Finance Bank as Slice Small Finance Bank, following their merger announcement last October. In a media statement this past Saturday, Rajan Bajaj, CEO of Slice, revealed that the bank has achieved monthly profitability and the group is setting sights on a public offering within the next three to four years.

Based in Bengaluru, the company has successfully secured nearly $400 million in funding, which includes a $220 million Series B round led by Tiger Global and Insight Partners. Reports indicate that Tiger Global is the prominent stakeholder, with Insight Partners following closely.