Pratik Bhakta
Pratik Bhakta
Fintech startups are partnering with new-age banks and lenders to launch innovative products in a largely untapped credit card market
April 30, 2021
4 MINS READ{The Crux brings you crisp and incisive analysis on the developments that matter. It’s a free read.}
India’s credit card sector is being disrupted and new-age private banks, with support from fintech startups, are looking to grab the opportunity.
IDFC First Bank and State Bank of Mauritius India did not have credit card businesses until recently. Over the last six months, they have scaled up aggressively, mostly by acquiring customers digitally through startup channels.
IDFC First has partnered with FPL Technologies, issuer of the mobile-first OneCard digital and metal credit cards. SBM India has partnered with EnKash, an enterprise expense management and credit card platform, and Karbon, an issuer of corporate cards for startups.
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