Digital lending platform KreditBee on Thursday entered into the card segment by launching KreditBee Card to cater to the unserved and underserved banking customers. It will do away with the need to avail of a separate loan, KreditBee said. A customer can avail credit limit of up to Rs 10,000 that can be repaid within a single billing cycle not going beyond 45 days. The company has partnered with RuPay and RBL Bank to launch this product.
KreditBee intends to offer 1 million (10 lakh) cards by the end of the financial year 2021-22. It offers versatility and flexibility in terms of ticket size and repayment options, the company said. 'Traditional banks and NBFCs (non-banking financial companies) are very stringent when it comes to issuing cards. We aim to democratise credit in India by issuing a KreditBee Card, which works similar to a virtual credit card to anyone who is a responsible borrower, irrespective of their consumer demographic and income group,' Madhusudan E, Co-Founder and Chief Executive Officer, KreditBee, said.