In 2023, Kiwi, a credit card platform, announced the launch of a new service called “Credit on UPI” for customers. This new service is certified by the NPCI. Kiwi is now the first app in India to offer “Credit on UPI” through the issuance of RuPay cards in association with banks. The company also issues virtual credit cards through its app. Credit on UPI (Unified Payments Interface) refers to the integration of credit cards with the UPI system in India.
This is the most significant step taken by Kiwi in the direct-to-consumer (D2C) segment in the credit market. Its mobile application allows users to make payments securely using either a credit card or bank account through their mobile phones. It works in partnership with banks like Yes Bank and Axis Bank to offer its cards. The Kiwi RuPay Credit Card simplifies UPI payments while offering attractive rewards, making it a convenient option for users looking for seamless payment experiences.
The introduction of UPI in 2016 revolutionised the banking industry in India. UPI has completely changed the landscape of the banking sector by making financial services accessible to people from all walks of life, including those in remote areas. In 2022, the RBI allowed RuPay credit cards to be linked to UPI, providing a unique advantage that no other credit card currently offers.
In this blog, let’s understand how you can apply for Rupay credit cards using the Kiwi App:
Steps to Apply Rupay Credit Cards Using the Kiwi App:
- Start by downloading the Kiwi App on your mobile phone.
- Open the app and click on ‘Login.’ Enter your registered mobile number.
- A one-time password (OTP) will be sent to your mobile number. Enter the OTP to proceed.
- After logging in, you can apply for a Rupay credit card by following the next steps.
- Fill in your PAN card number, name (as it appears on your PAN card), and date of birth, then press ‘Submit.’ Your details will be verified.
- After verification, a page will display the available credit card options. Choose the type of card you want and click ‘Apply.’
- You’ll be asked to fill out the application with the following details: personal, contact, and career details. Complete these fields.
- After filling in the details, agree to the terms and conditions, and click ‘Submit.’
- You will receive another OTP on your registered mobile number. Enter the OTP and click on “Verify and Continue.”
- Your application will be processed for validation. Wait for a few moments while it completes.
- After successful validation, a page will display your Kiwi RuPay Credit Card details.
- To activate your card, you’ll need to complete Video KYC verification with a banking partner.
- Once the Video KYC verification is complete, your RuPay credit card will be activated.
User Experience of Applying for a RuPay Credit Card with Kiwi
If you’re like the majority of people, you certainly cringe at the thought of filling out your application for a credit card. However, that awful feeling disappears really soon with the Kiwi app. It really is one of the easiest processes you will come across.
The app is super easy to navigate. From the moment you open it, you’ll feel like you’re being guided along rather than having to figure things out on your own. There’s no complicated process or endless forms to fill in. It’s more like—”Okay, here’s what we need, now let’s get this done.” And before you know it, you’re already moving through the steps.
What’s even better is how fast everything happens. You’ll appreciate how Kiwi verifies your details right away, without leaving you staring at a loading screen wondering what’s going on. It’s all done in a snap, and before you know it, your RuPay credit card is ready to go.
Another thing you’ll appreciate is the level of security. Sharing personal details can be a concern, but Kiwi ensures your peace of mind with its certification from NPCI. You’ll know your information is protected at the highest standards.
In just a few minutes, you’ll be ready to start using your card for UPI payments, which is a game changer. No extra charges, no fuss—just a super convenient way to apply for credit cards.
In short, your experience with the Kiwi app will feel modern, secure, and incredibly convenient. And with a RuPay credit card that works seamlessly with UPI payments, you’ll find it’s a win-win.
How Is Kiwi Redefining the Credit Card Ecosystem with UPI Integration?
Massive Customer Reach
Kiwi is tapping into a much larger ecosystem by bridging the gap between UPI users (330 million) and credit card users (40-50 million). This significantly broadens the scope for daily credit card transactions.
UPI-Based Credit Card Payments
Unlike traditional credit cards requiring Point of Sale (POS) machines, Kiwi enables UPI-based credit card payments. Users can simply scan a QR code with their linked RuPay digital cards, making transactions more accessible and convenient for both customers and merchants.
Wider Accessibility for Small Merchants
Kiwi helps small merchants like kirana stores and street vendors by providing them with the ability to accept credit card payments. This benefits them by expanding their customer base, especially in areas lacking POS machines, such as the northeastern parts of India and smaller towns, where 85% of Kiwi’s transactions take place offline.
Strong User Repayment Rates
Kiwi has a user base of 14,000 and an impressive 95% of users repay their dues on time. This shows that Kiwi’s users are financially disciplined, reducing the risk of revolving credit and bad debts.
Convenient Payment Terms
Kiwi credit cards follow the same terms and conditions as regular credit cards. Users are given a specific window to repay their balances, avoiding interest if payments are made on time. This structure allows for flexibility without promoting over-expenditure.
Conclusion
Overall, Kiwi is one of the best online platforms if you want to apply for Rupay credit cards. By using Kiwi Rupay credit cards, you can easily make payments on all UPI apps. It’s the first credit card that allows for scanning-based direct UPI payments. There are no extra charges, and the card is free for a lifetime.
Being India’s first standalone platform for credit on UPI, it aims to drive widespread adoption of transactional credit. By using UPI’s extensive network, Kiwi can reach millions of underserved customers, including those in rural areas. This platform opens the door to accessible and affordable credit for the next 100 million UPI users in India. Its user-friendly design and flexibility will empower individuals to achieve their financial goals and aspirations.
Frequently Asked Questions
What are the benefits of using a RuPay credit card through the Kiwi app?
Using a RuPay credit card via the Kiwi app offers numerous benefits, including no extra charges, the ability to make seamless UPI payments, and lifetime free access to the card. Kiwi provides a secure and user-friendly experience.
What is the Kiwi credit card’s age limit?
Usually, individuals between the ages of 25 and 45 who are either qualified for or already have credit cards can apply. For cardholders, the Kiwi app offers an extensive number of advantages, including the ability to make payments with their cards, set limits, block cards, and receive rewards for each transaction.
How does the Kiwi Credit Card work?
Kiwi users will receive a RuPay credit card immediately and digitally after applying. Once they receive the card, they must connect it to UPI on the app. After that, customers can use the “Credit on UPI” transaction feature at both online and offline establishments.
Is Kiwi able to protect my data?
Yes, Kiwi ensures total data security. It secures your data using industry-leading standards. To improve user experience and security, it has worked with some of the greatest organisations in the nation, including Experian, NPCI, and Axis Bank.
Can I use the Kiwi app to set the credit card limit?
Yes, you can use the Kiwi app to set a spending restriction on the amount you want to spend with your Kiwi Credit Card.
Is the Kiwi app NPCI certified?
Yes, the NPCI has certified the Kiwi app.
