On October 14, 2020 EarlySalary in collaboration with National Payments Corporation of India (NPCI) launched ‘Salary Card’, a Zero-Touch Digital card. The Salary Card credit solution is powered by Rupay. It provides instant access for salaried professionals, allowing them to make purchases instantly across merchants in India.
Vivifi India Finance Private Limited (Vivifi) has launched FlexPay, which offers credit on Unified Payments Interface (UPI).
About Salary Card:
Set up a dynamic credit limit- Unique feature
The Salary card has a unique feature that enables the customers to set up a dynamic credit limit to suit their shopping, medical, travel, entertainment and other needs.
This feature helps customers to exercise tighter control over their finances.
Backed By
It is backed by advanced ML( Machine Learning) technologies and risk-oriented decision-making mechanisms.
Activation
Customers by accessing the EarlySalary mobile app, can activate the card within seconds.
Key Info
i.The card aims to make credit access easier to the digitally-savvy young generation of India.
ii.The card will also democratise digital credit and payments to Indians.
iii.The card is designed to serve as a secure payment mode.
Additional Info
EarlySalary had introduced the EarlySalary Credit Suite to provide a one-stop credit solution to serve all credit requirements of a salaried individual.
FlexPay
i.It allows customers to use a line of credit, If they have no funds available in their bank accounts or virtual wallets.
ii.The product facilitates purchases offline by scanning any UPI QR code or a UPI ID to salaried and self-employed individuals.
Recent Related News:
Federal Bank has partnered with Fiserv, Inc. to enable the digitization of it’s end-to-end card issuance and processing cycle to support the launch of the Federal Bank credit card, their 1st Independent Credit Card. The Federal bank will also outsource associated operational processes to Fiserv.
About EarlySalary:
Chief Executive Officer(CEO) and Co-Founder– Akshay Mehrotra
HeadQuarters– Pune, Maharashtra
About National Payments Corporation of India (NPCI):
Managing Director(MD) & CEO– Dilip Asbe
Head Office– Mumbai, Maharashtra
