Tuesday, July 05, 2022

Technology

Credit card challenger slice enters UPI payments market

IANS | May 19, 2022 03:07 PM

BENGALURU: Accelerating its journey in creating a one-stop payment platform, fintech company Slice on Thursday launched the integration of unified payments interface (UPI) into its app for all its existing and waitlisted users.

Following its trial in 2021, the company said it is now rolling out the integration in a phased manner for its users.

"At slice, our purpose is to make the world better at using money and time. And slice UPI is built to fulfill this purpose, " Rajan Bajaj, Founder - CEO, slice, said in a statement.

"While building our UPI product, we ensured that we removed all the friction - there is no advertisement, there is no cross-selling, and there are no 100+ CTAs. The question we keep asking ourselves is "how can the user do this in 1 second or even less time?" And we wanted to make this happen, now, " Bajaj added.

Similar to other UPI apps, slice users can now create a UPI account on the slice app by linking it to their bank accounts. With andy (&ID), the unique ID on slice, users will be able to make payments just by searching for the &ID.

Earlier, only slice's credit users could enjoy its simple and intuitive experience. By extending UPI services to its 10 million waitlisted customers, the company will now be able to provide them with an equally superior experience.

Furthermore, it will enable the company to understand this set of users and activate credit for them in the future.

In November 2021, slice entered India's Unicorn club after raising $220 million in its Series-B fundraise co-led by Tiger Global and Insight Partners. The company is building the best payment experience in India with its slice super card.

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