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EarlySalary, a consumer lending platform, on Wednesday, announced the launch of ‘Salary Card’, a zero-touch digital card that provides instant access for salaried professionals, enabling them to make instant purchases across thousands of merchants across India.
Powered by RuPay, the Salary Card comes with a unique feature that allows consumers the flexibility of setting up a dynamic credit limit to suit their shopping, medical, travel, entertainment and other needs.
Backed by advanced Machine Learning (ML) technologies and risk-oriented decision-making mechanisms, the Salary Card is designed to serve as a secure payment mode to help consumers spend responsibly. A customer can activate the Salary Card within seconds by accessing the EarlySalary mobile app.
Dilip Asbe, CEO, National Payments Corporation of India (NPCI), in a press statement, said, “We, at NPCI, are working with several ecosystem players who are looking at innovative payment solutions that are fast and simple, yet secure. The payments industry, already one of the most dynamic sectors in financial services, continues to evolve, propelled by technological and operational innovations. India is becoming an exciting platform for the development and testing of new payment technologies. NPCI is finding innovative ways of extending digital credit to customers through our partners.”
Speaking on the launch of EarlySalary’s Salary Card, Akshay Mehrotra, CEO and Co-Founder at EarlySalary, said: “EarlySalary aims to make credit access easier to India’s digitally-savvy young generation, which drives the major consumption of products and internet services, especially during the pandemic period. The rise of zero-touch experience and the increasing credit demand, even from small towns and villages, have inspired us to launch the Salary Card.”
Earlier this month, EarlySalary also introduced the EarlySalary Credit Suite, which is designed to provide a one-stop credit solution to serve all credit requirements of salaried individuals.
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