This card called Super Card, otherwise known as co-branded RuPay credit card was initiated by Super Money which is backed by Flipkart along with Utkarsh Small Finance Bank for the purpose of stretching Indian financial inclusion.
The card has never been that flexible and can serve all sorts of clients, which range from Rs 90 to Rs 9 lakh. Through this generator, the bank aims at more than millions both having a good or bad record in accessing finance for their transformations into financially free individuals.
Super Card: A Solution to Everybody for Credit
Concerning adaptability and a worldwide method, the Super Card is revolutionary. Differently from traditional credit cards that require substantial minimum credit limits, this one starts as low as ₹90.
The aim is to incorporate fresh clients into the formal credit regime, especially those who have little or no financial past that were previously ignored. Users have to deposit an initial sum starting from ₹100 with Super Card.
Such type of deposit serves two functions; it safeguards credit limit while also earning interest thereby serving as both credit access and saving for its holders in a way.
Integrating UPI: A Flawless Payment System
Integration with Super Money’s “Scan & Pay” feature is among Super Card’s impressive features. It allows customers to use their credit cards for payments through Unified Payments Interface (UPI) on the app.
This twofold capability furnishes a smooth transaction experience for traditional merchant exchanges and UPI payments at the same time. The Super Card is in prime position to grow into a major player due to its ability to give smooth credit access via UPI; all thanks to its existing alignment with Indian digital payment systems where UPI has continued to receive lot of attention.
Completely Covered Advantage Scheme: Idealizing Rewards to Consumer
The Super Card possesses an extensive benefit system that has been developed to optimize users’ gains. With this card in hand, cardholders are entitled to 5% off when shopping at Myntra, 3% off on Cleartrip, and 2% discount at Flipkart.
Also, every eligible transaction attracts 0.5% cash back meaning that whatever you buy will always pay back more than what was used in initially buying it. Moreover, these prizes are added without user interference thereby rendering them trouble-free methods of earning.
A World’s First: Expanding Credit Access
The introduction of Super Card is an important turning point in the finance industry. Prakash Sikaria, Founder & CEO of Super Money spoke at the Global Fintech Fest 2024 on how crucial this international credit card service is when it comes to enhancing financial inclusion.
“While UPI has been responsive to demand-side issues, supply-side barriers persist. This global product for universal credit cards will open doors for millions of Indians who have not been able to access conventional credit. Our lowest denomination of this card, which is limited to a mere $1, is unprecedented in any part of the globe,” he declared.
Govind Singh, MD & Chief Executive Officer (CEO) at Utkarsh Small Finance Bank shared similar thoughts and emphasized the ability of Super Card in helping people establish good reputations regarding borrowing money.
“We hope that by integrating our services with Super Money platform we will enable individuals to form a favorable borrowing history and get access to numerous other loan products later,” he remarked.
Super Card: Driving Financial Inclusion through Innovation
Super Money has introduced the Super Card as a new way to utilize its products creatively to reach more clients in need of financial help. This card can be particularly useful for those who have not previously borrowed money and need to build up their formal credit history.
The Super Card also serves the government agenda to promote digital payments and increasing financial literacy among unbanked population in India.
How Super Card works, it’s a very simple and transparent process?
Evidently getting and using the Super Card is a straightforward affair. Users can obtain the card by making deposits ranging between ₹100 – ₹10 lakh based on their preferred credit limits.
The deposit does earn interests which are an added advantage of possessing that particular plastic. On making a deposit user can use this card for making purchases immediately both through traditional means as well as UPI due to its integration with Super Money’s “Scan & Pay” functionality.
The Future of Credit in India: A Pragmatic Vision of Super Money
A showcase of Super Money’s ingeniousness is displayed in its unveiling the Super card with which it intends to encourage accessibility of credit for everyone. Super Money’s broader vision for transforming the asset lending scenario in India is embodied by this card that has flexible limits on credit, a connection to UPI and great incentives that come along with it.
Through the Super Card, thousands of powerless yet hardworking Indians can empower themselves financially.
By introducing the Super Card, Super Money has emerged as an important player in India’s market for UPI payments, now controlled by such players as PhonePe and Google Pay. The unique combination of credit cards and UPI payments is expected to become a trendsetter opening doors for other companies to start offering similar products in the sector thereby benefiting customers at large.”
Brand New Rewards Program: User Engagement Elevated
Other than the already established rewards programs, Super Money is launching new initiatives such as Super Name Drop, Raffles and Meme Money. They intend to lure their users through quick cashbacks and prizes to encourage instant transactions.
As a result, Super Money’s transaction elaboration would have more fun (game-like) hence resulting into more customer involvement and allegiance hence ensuring its space in the market is firmed up once again.
Conclusion: Financial Inclusion’s New Era with Super Card
The introduction of Super Card by Super Money alongside Utkarsh Small Finance Bank signifies a fresh chapter in India’s financial inclusion story.
Notably, the Super Card shall revolutionize finances in this country through its adjustable credit limits, UPI compatibility and an all-encompassing rewards scheme.
All these factors will allow many people access credits for the first time therefore promising a better tomorrow for numerous Indian citizens.
