Money & Banking

SOLV partners with Standard Chartered Bank to launch credit card for MSMEs

Our Bureau Mumbai | Updated on June 26, 2020 Published on June 26, 2020

SOLV, a B2B digital platform for Micro, Small and Medium Enterprises (MSMEs), has launched a credit card tailor-made for the MSME segment, in partnership with Standard Chartered Bank, India.

SOLV, registered as Standard Chartered Research & Technology India Pvt. Ltd., is a fully-owned entity of the London-headquartered Standard Chartered Group.

The digital platform, in a statement, said the SOLV MSME Credit Card provides business owners with a ready means to meet ongoing business expenses including supplier payments, fuel, logistics, purchase of raw material, utility payments and working capital outlays.

Per the statement, the SOLV platform will help small businesses trade goods with each other and expand their customer base across India.

The platform said MSMEs are not charged any credit card joining fee, and the card comes with cashback, including 5 per cent cashback on fuel transactions, and reward features.

Nitin Mittal, CEO, SOLV, said, “This credit card will help small business owners’ tide over immediate crises such as paying for daily expenses and logistics costs with ready access to funds from a reputed, reliable partner at an affordable rate. ”

Published on June 26, 2020
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