EarlySalary, a consumer lending platform, has announced the introduction of ‘Salary Card,’ a zero-touch digital card that provides instant access for salaried professionals to make instant purchases across merchants in India.
Powered by RuPay, the ‘Salary Card’ comes with a feature that allows consumers the flexibility of setting up a credit limit to suit shopping, medical, travel, entertainment and other needs.
Since the ongoing pandemic has created a higher preference for non-contact payments, this digital zero-touch ‘Salary Card’ credit solution from EarlySalary will offer a safe and secured environment to customers, the company said.
Besides it will enable customers to exercise tighter control over their finances by setting a credit limit for every shopping need or expense.
“Backed by advanced Machine Learning (ML) technologies and risk-oriented decision making mechanisms, the ‘Salary Card’ is designed to serve as a secure payment mode to help consumers spend responsibly. A customer can activate the ‘Salary Card’ within seconds by accessing the EarlySalary mobile app,” the company said.
Akshay Mehrotra, CEO and co-founder, EarlySalary said “We aim to make credit access easier to India’s digitally-savvy young generation, which drives the major consumption of products and Internet services, especially during the pandemic period.”
“The rise of zero-touch experience and the increasing credit demand, even from small towns and villages have inspired us to launch the Salary Card,” he added.
Dilip Asbe, CEO, National Payments Corporation of India (NPCI),said, “We are working with several ecosystem players who are really looking at innovative payment solutions which are fast and simple yet secure.”
“The payments industry, already one of the most dynamic sectors in financial services, continues to evolve, propelled by technological and operational innovations. India is becoming an exciting platform for development and testing of new payment technologies. NPCI is finding innovative ways of extending digital credit to customers through our partners,” he said.
Earlier this month, EarlySalary had introduced the EarlySalary Credit Suite which is designed to provide a one-stop credit solution to serve all credit requirements of a salaried individual.
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