NEWS

• Unity Small Finance Bank (Unity Bank), in partnership with BharatPe and the National Payments Corporation of India (NPCI), has launched India’s first RuPay EMI-based credit card.
• The product is named the Unity Bank BharatPe Credit Card, marking a significant innovation in digital payments and consumer credit.

HIGHLIGHTS

Key Features

• EMI-Centric Design: Cardholders may repay dues in full or convert spends into EMIs, up to 12 months.
• UPI Integration: RuPay credit card is linked to UPI, ensuring universal merchant acceptance across online and offline platforms.
• Zero Fees: No joining fee, no annual fee, and no foreclosure charges on EMIs.
• Rewards: EMI-linked spends earn rewards, redeemable via the BharatPe app.
• Additional Benefits: Complimentary lounge access (domestic and international) and preventive health check-ups.
• Flexibility: EMIs can be prepaid without penalties, ensuring transparency.

Target Customers & Onboarding

• Eligibility: Both salaried and self-employed individuals are covered.
• Digital Process: End-to-end online onboarding via BharatPe app – including KYC and credit assessment.
• Objective: Broaden access to organized credit, particularly for small businesses and first-time credit users.