Kiwi launches Lifetime Free 'Axis bank RuPay Credit card' and ‘Credit on UPI’ | Flat 2% Cashback for Waitlist users:
Website link: https://goki...n/
Flat 2% Cashback for Waitlist users and Flat 1% Cashback on Scan & Pay
Kiwi app is expected to go live by mid May but the website is ready for users to register and join the waitlist
Kiwi will offer RuPay credit card to users to make UPI payments
The leadership expects to onboard 2 Mn users in eighteen months
Kiwi, a credit card platform, has announced the launch of its all-in-one “Credit on UPI,” solution for customers. Certified by the NPCI, Kiwi is the first app in India that will help customers experience “Credit on UPI” by issuing Rupay Cards in partnership with banks.
With this launch, the company aims to create one of the largest direct-to-consumer (D2C) models in the credit market through its mobile application, which offers users the ability to make payments using either a credit card or bank account directly through their phones in a secure manner.
Speaking about the launch, Siddharth Mehta, co-founder, Kiwi, said, “UPI has become the most inclusive mode of payment in India, with over 30 crore unique users and 5 crore merchants onboarded on the platform. With the launch of Kiwi app, for the first time in India, users can now leverage the power of a (RuPay) credit card with the convenience and ease of UPI. Our vision is to enable access to credit on UPI for 1 million users over the next 18 months.”
Kiwi users will be issued a RuPay credit card, digitally and instantly. Post receiving the card, users will be able to link the card to UPI on the app and will be able to use the “Credit on UPI” transactions facility at offline as well as online stores. The Kiwi app will also help users manage their cards with a host of facilities like blocking cards, increasing limits, and making card payments while rewarding them for every transaction.
Praveena Rai, COO, NPCI said, “In our step towards attaining the goal of ‘Digital Payments for All’, Kiwi will be a game-changer in the Indian credit card industry. With the monthly expenditure on UPI P2M transactions amounting to approximately Rs. 3.2 lakh crore, which is almost 2.5x larger than the monthly credit card spends, Kiwi is set to capitalize on a significant untapped market. Looking at the whitespace that Kiwi is addressing, we’re confident that their model will support plenty of Indian credit card users on a daily basis.”
Finance
Credit Card
https://gokiwi.in/rewards-p...y/
Transaction rewards will not be applicable on the below category/type of merchants Fuel, Rentals, Repayments of loans, Jewelry, Cash Withdrawal, Wallet load, Insurance, Education, Government Services, Utility payments, EMI, Purchases converted to EMI post the transaction is complete, Payment of card fees, card bill payments etc. The Category of the merchants will be defined by the Merchant category code received by us in the transaction..
Nothing new here. RuPay credit cards can be already used with UPI apps like Google Pay. Also note that if you apply, they will check CIBIL, and with each such check your score gets reduced.
koushik wrote:Nothing new here. RuPay credit cards can be already used with UPI apps like Google Pay. Also note that if you apply, they will check CIBIL, and with each such check your score gets reduced.
No its not gonna effect your cibil score
CaptainLevi wrote:Scan and pay has 1% cashback or 2% for waitlist users?
And will it also work like a regular credit card? If we only want to use a credit card and not a credit card on upi
It's a Virtual credit card.
already have 3 axis Bank credit cards (2 regular & 1 co-branded). will I be allowed to get this one?
koushik wrote:Nothing new here. RuPay credit cards can be already used with UPI apps like Google Pay. Also note that if you apply, they will check CIBIL, and with each such check your score gets reduced.
Checking your CIBIL score does not impact your score.
Ghamchaadarh wrote:already have 3 axis Bank credit cards (2 regular & 1 co-branded). will I be allowed to get this one?
If you hold more than 2-3 LTF credit card then axis will reject your application.
koushik wrote:Nothing new here. RuPay credit cards can be already used with UPI apps like Google Pay. Also note that if you apply, they will check CIBIL, and with each such check your score gets reduced.
Yes, but that can be used only for merchants payments and there no reward as such for upi payments except tata neu card.
Not sure this is going to support both P2P and P2M UPI transfer.
For waitlisted 2℅ of cashback in the form of kiwi reward points.
And 1 kiwi reword point = 0.25₹
Indirectly 0.25% Cashback in terms of money. 😄😄
PRASHVIR wrote:Clearly mentioned 2% cashback means we will get 8 kiwi reward points = Rs 2For waitlisted 2℅ of cashback in the form of kiwi reward points.
And 1 kiwi reword point = 0.25₹
Indirectly 0.25% Cashback in terms of money. 😄😄
PRASHVIR wrote:For waitlisted 2℅ of cashback in the form of kiwi reward points.
And 1 kiwi reword point = 0.25₹
Indirectly 0.25% Cashback in terms of money. 😄😄
I think we should wait until the registration process started
2% cb means 2 rs for 100 spend in general right ?
So before coming to any conclusion lets wait
abhishek012 wrote:
Clearly mentioned 2% cashback means we will get 8 kiwi reward points = Rs 2
No it does not. It's word play.. It can be points, it can be money.. Until they open the shop, we can only speculate..
EDIT:
As per this,
https://gokiwi.in/rewards-p...y/
it does seem like 2% money worth cashback!
What is the KYC process?
What documents are asked later?
As usual these are the terms. But still, it will be decent cashback card for scan and pay.
Transaction rewards will not be applicable on the below category/type of merchants Fuel, Rentals, Repayments of loans, Jewelry, Cash Withdrawal, Wallet load, Insurance, Education, Government Services, Utility payments, EMI, Purchases converted to EMI post the transaction is complete, Payment of card fees, card bill payments etc. The Category of the merchants will be defined by the Merchant category code received by us in the transaction..
PRASHVIR wrote:For waitlisted 2℅ of cashback in the form of kiwi reward points.
And 1 kiwi reword point = 0.25₹
Indirectly 0.25% Cashback in terms of money. 😄😄
Now see this
I hope now its clear to you
Waitlist Rewards
a. This will be applicable only for users signing up on the waitlist
b. The “2% Cashback” will be valid only on merchant payments done by Scan & Pay using the Axis Bank Kwik Credit card on the Kiwi app
c. User will earn 4 Kiwis for every Rs 50 spent on the card for the transaction type mentioned in 8.b. - Kiwi's are calculated on multipliers of Rs 50/- eg.
i. Transaction of Rs. 50/- : 4 Kiwis earned
ii. Transaction between Rs. 51 and Rs. 99/- 4 Kiwis earned
iii. Transaction of Rs. 100/- : 8 Kiwis earned
https://gokiwi.in/rewards-p...y/
@abhishek012 bro please update this in the main thread
15K waiting
rusty.james wrote:As per point "e" is 2% a joining benfit for those who joined waitlist and is valid for 60 days from date of CC gets issued? Post that they will be on 1%?Now see this
I hope now its clear to you
Waitlist Rewards
a. This will be applicable only for users signing up on the waitlist
b. The “2% Cashback” will be valid only on merchant payments done by Scan & Pay using the Axis Bank Kwik Credit card on the Kiwi app
c. User will earn 4 Kiwis for every Rs 50 spent on the card for the transaction type mentioned in 8.b. - Kiwi's are calculated on multipliers of Rs 50/- eg.
i. Transaction of Rs. 50/- : 4 Kiwis earned
ii. Transaction between Rs. 51 and Rs. 99/- 4 Kiwis earned
iii. Transaction of Rs. 100/- : 8 Kiwis earned
https://gokiwi.in/rewards-p...y/
rusty.james wrote:Now see this
I hope now its clear to you
Waitlist Rewards
a. This will be applicable only for users signing up on the waitlist
b. The “2% Cashback” will be valid only on merchant payments done by Scan & Pay using the Axis Bank Kwik Credit card on the Kiwi app
c. User will earn 4 Kiwis for every Rs 50 spent on the card for the transaction type mentioned in 8.b. - Kiwi's are calculated on multipliers of Rs 50/- eg.
i. Transaction of Rs. 50/- : 4 Kiwis earned
ii. Transaction between Rs. 51 and Rs. 99/- 4 Kiwis earned
iii. Transaction of Rs. 100/- : 8 Kiwis earned
https://gokiwi.in/rewards-p...y/
For waitlisted this is first 60 days after that normal journey that is 1%.
swordfish wrote:Need some advice on kiwi
Which one, the bird or the fruit?
Will these "Kiwi" points also go Slice "monies" way?
Offtopic - any link on what to do with the lakhs of Slice monies which we have accumulated?
Also note that you HAVE to check this box to be able to proceed with waitlist registration-
"Send me promotional notifications about events, products, and news
about Kiwi via communication channels including but not limited to
Emails, WhatsApp and SMS. I agree to the Terms & Conditions."
Pan card not asked
Hooray!
Your waitlist ID is 16074.
You are eligible for early access to the Kiwi app!
You’ll hear from us real soon!
Pan card not asked
Ghamchaadarh wrote:already have 3 axis Bank credit cards (2 regular & 1 co-branded). will I be allowed to get this one?
Yes, someone answer this
Swaminatha wrote:what if someone has ace, iocl and Magnus?Yes, someone answer this
rockylucifer wrote:Y would some one want this after having such brilliant cards🤨🙄
what if someone has ace, iocl and Magnus?
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The co-founders of Kiwi are Siddharth Mehta (ex-CEO, Freecharge), Mohit Bedi (ex-Axis Bank & PayU), and Anup Agrawal (ex- business head, LazyPay), all of whom are senior fintech experts and veterans of the banking industry.
After Few Months They Also Devaluation Cashback rate