The pandemic has brought about a drastic shift in the way consumers approach digital payments. Let’s face it, Indians love cash transactions. However, due to the pandemic, the contactless quality of the digital modes enabled by innovative powerhouses has given millions of Indians a choice to practice social distancing while making payments. These new payment behaviours are probably irreversible and here to stay.
Young Indians spent three times more on eCommerce transactions after the first few months of lockdown. India currently has 609 million youngsters between the age of 18-24 years, yet only 11% of India’s Gen Z and Millennials own credit cards in this country. Local banks see it as high risks to offer the youth access to credit products ideally lowering their credit scores in comparison to their international peers.
With India’s millennials going digital post-pandemic, slice helps you take one more step ahead by innovating credit-on-demand for them. Our flagship product, the slice Visa card, comes with a credit line that supports all your financial needs, ideally to empower the young adults with access to financial products and at the same time build financial discipline early on.
Unlike most credit cards, We offer a zero joining fee at fast approvals of the slice Visa cards, no hidden charges, minimal interest rates, and the choice to split your bills. Offering to convert the bills to EMI’s is making payments more promising and recurring leading to recovering a good credit score for our young users. It gives the users a complete view of their expenses and transparency in viewing the credit reports.
We recently introduced a Visa card that comes free with its pay-later app, to cater to the evolving needs of Gen Zs and millennials. It is available in both physical and virtual forms to increase easy accessibility. Read more about our new card here.
slice in the fintech space
slice is defining leadership in the millennial fintech space. It has seen a massive growth of users in the last year managing to reach a whopping one million transactions. slice has a sustainable advantage as it has decoded young credit users’ demands and managed to build an impressive understanding of credit risk and low-cost distribution using technology.
Our expansion has thrived us to work harder. slice, as a startup has seen xxx active customers, spread across 30 cities all over India with over 5 million merchants accepting our cards. We are growing at a rate of 15 to 20 percent each month. The startup has two main areas of focus in the coming months, scaling the product and providing the best experience with the slice card.