KreditBee Card Sample. | Representative image
Digital lending platform KreditBee on October 18 announced that it has issued over 1,00,000 cards. With this, KreditBee has become one of the fastest players in the country to cross the milestone, that is, within 60 days of its launch. It aims to expand the portfolio by issuing over 1 million ‘KreditBee Cards’ by March 2022.
Among the cardholders, 75 percent are from metros and Tier-1 cities like Bengaluru, Mumbai, Hyderabad, Pune, and Thane, and others. Almost 70 percent of these card holders are below the age of 30 years.
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“We at KreditBee are proud to have achieved this milestone of crossing 1 lakh KreditBee Cards within a short span of less than 60 days. These growing numbers represent the trust and confidence that customers are showing in us and I would also like to thank our partners.
“We aim to democratize credit in India by issuing more KreditBee Cards, which will function as virtual cards for responsible borrowers, irrespective of their demographic & income group. Towards the same, we intend to issue over 1 million cards to the customers by March 2022,” KreditBee CEO Madhusudan Ekambaram said.
With ‘KreditBee Card’, a customer can avail credit limit upto Rs 10,000 loan that can be repaid within a single billing cycle not extending beyond 45 days. Also, they can make multiple withdrawals or purchases within the credit limit.
The virtual card will be generated on the app and can be used for transactions instantly. Customers can upgrade their credit limit within a single billing cycle, while, no irrational fees and charges are applied.Internet Explorer Channel Network