Context:
Digital payments platform PhonePe and Utkarsh Small Finance Bank (SFB) have jointly launched the “Wish Credit Card”, aimed at providing affordable and accessible credit to a wider section of users, especially those new to formal credit.
About the “Wish Credit Card”
Issuer: Utkarsh Small Finance Bank
Powered by: Visa Network
Distributed through: PhonePe app
Objective:
To expand credit inclusion by offering customised, flexible, and digital-first credit card solutions for both urban and semi-urban users.
Key Features
- Instant Digital Issuance: Customers can apply and get the card instantly through the PhonePe app with 100% digital onboarding.
- Customised Credit Limits: Based on user profile and spending behaviour.
- Rewards and Cashback: Offers reward points and cashback on digital payments, shopping, and bill payments.
- Secure Transactions: Enabled with advanced Visa security protocols and real-time transaction alerts.
- Accessibility: Targeted at first-time credit users, helping them build credit history.
