Slice raises $6M to assist young Indians pay digitally and construct credit rating
The streets of Koramangala, one of the largest areas in Bangalore, are plastered with hoardings and banners of digital payment services. Every couple of actions, you discover a bank, and offices of fintech start-ups. But when Mohammed Nayeem wished to get a charge card, he realized his alternatives were restricted. He made an application for a charge card […] He applied for a credit card at RBL Bank, a Mumbai-headquartered bank that has actually been around for more than 70 years. There are close to 1 billion debit cards in use in India today, but only about 50 million credit cards in circulation., which provided him with a Slice Card that for all functions and intents serves as a credit card. Slice offers a pre-paid card that comes with a pre-approved credit line, Rajan Bajaj, co-founder and CEO of the four-year-old start-up, told TechCrunch in an interview. The greatest destination possibly for users is that they are able to construct credit ratings, which would eventually make them eligible for much better credit cards from other firms and banks, and allow them to secure loans for numerous functions….
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