On November 16, 2020 Stashfin has partnered with Visa to launch co-branded prepaid cards with credit lines. The credit line card can be used at physical merchant locations and ATMs(Automated Teller Machines) as well as in Visa-accepted online modes.
Targeted Customer– Millennials who are just beginning their careers or are still in the early stages and prefer not to deal with hindrances of borrowing from a traditional banking institution.
Key Info
i.With this launch, Stashfin aims to tap into customers looking for festive shopping discounts, helping them convert their purchases into easy EMIs(Equated Monthly Installments) using their credit line cards.
ii.Stashfin will extend Visa’s commercial offers available on the cards to increase the product offerings to its users.
About Co-branded Prepaid Cards
i.The pay as you go card act as a personal overdraft facility, that allows customers to take loans with amounts ranging from Rs 25,000 to Rs 3 lakh, depending on their credit profile.
ii.On the credit line card, customers need to repay the loan within 12-18 months, unlike credit cards, that allows them to be financially disciplined
Recent Related News:
On October 19, 2020 Paytm in partnership with various credit card issuers will introduce 2 million co-branded credit cards for consumers in India in the next 12–18 months.
About Stashfin:
Founder and CEO– Tushar Aggarwal
HeadQuarters– New Delhi, India
About Visa
Headquarters– California, United States
Chairman and CEO– Alfred F. Kelly, Jr.
