RBI Grade BNABARD ESISEBI
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Source: BS
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Context:
Fintech firm Kiwi has announced the launch of India’s first-ever interest-backed EMI option on UPI payments, enabling users to convert high-value transactions into instalments while earning cashback equivalent to the interest paid. The move comes amid a broader push to expand credit accessibility via real-time payment systems.
Key Highlights
Unique Model: Users can split big-ticket UPI payments into EMIs with cashback on interest — a first-of-its-kind feature in India’s fintech ecosystem.
Objective: To promote credit-based UPI transactions while reducing the effective cost of borrowing for consumers.
