Fintech News Bytes

If you think for small finance Bank, then AU small finance is best… Highest interest and too much offers

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NuCash offers only Virtual Card, so I don’t think it’s possible to withdraw from ATMs.
You can have the customer care number of NuCash from their website @Abhinav_Goyal .
It’s displayed along with the support mail, there at the bottom of their website

Oh … then only way to check via online transaction :expressionless:

Kiwi giving pre approved offer for existing axis Bank/cc holders.
It took me hardly 1 min. to apply & use the card

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:man_facepalming::man_facepalming: This is what I am getting from them :grin:

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I got instant approval as i already hold Axis Bank Credit Card with the same limit. Bonus 1000 kiwis received on first transaction

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@Satyajit_Singh @DigitaL
Which means it’s super easy to get approved for existing Axis credit card holders.
The limit means shared limit or separate limit ? I saw some comment on Twitter regarding shared limit.

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I think shared limit as it is exactly the same.

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Yeah its a shared limit card with only otp verification but my experian credit information was pulled ( received notification from Experia).
Some other bank providing shared limit card are hdfc & icici

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Co branded card crackdown chapter already closed
Now it’s time for the crackdown of Non-PPI fintech company offering UPI services
Now how many fintech will be suffering for the notification … I am not sure

“Entracker reported that firms like Dreamx (Dream11), Fampay, Akudo, and Muvi do not have their own PPI License and they operate in collaboration with PPI license holding companies like Pine Labs or through banks like IDFC or Union Bank.” (some lines from that article)

Meanwhile this is the staring screen of Muvin

another related app FYP is beta testing UPI

Are there any other apps that might be impacted by this regulation? Previous regulations related to PPI had a significant impact on apps such as Lazypay, Slice, Postpe, Uni etc.

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Out of all the above fintech i had account with Akudo only… Got RBL bank virtual prepaid card from them… now all closed
But Kiwi app is also offering upi services along with credit … :thinking:?

kiwi is a proper credit card that’s supported by axis
just like Jupiter/Fi is supported by Federal
there’s no PPI scenario involved here yet
UPI service offered by Kiwi is basic upi what any UPI enabled app offers, you can link your bank account and pay using that

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Ooh that’s means those fintech offering wallet based Upi where money is added by users & then used as UPI with the help of others entity PPI licence will be affected by the latest RBI notification?

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Slice prepaid card upi not yet started
But as far as i know slice already got PPI licence from RBI last year so no issue for slice

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Got this mail form FYP today, regarding RBI’s order to shut UPI on all Co-Branded Wallets w.e.f 01st July 2023

I received a similar text message from Swiggy stating the Swiggy wallet will be closed and balance if any will transferred back as gift card

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Yeah i also received same message from swiggy.