The ‘Salary Card’ of the EarlySalary (1), powered by RuPay, allows customers to set up a dynamic credit limit. It could be according to their requirement for shopping, travel, medical, entertainment, and others. Advanced machine learning technologies and risk-oriented decision-making mechanisms back the flexible product of EarlySalary. It offers a secure payment model to help consumers spend responsibly.
On Wednesday, the company launched a ‘Salary Card’ with the NPCI, National Payments Corporation of India, to make the digital payments system democratic.
The Salary Card is a zero-touch digital card that offers instant access for salaried professionals. Consequently, it enables them to make quick purchases across thousands of merchants in India. While commenting on the recent launch, Akshay Mehrotra, the CEO, and Co-founder of EarlySalary, stated that the company aims to make credit more accessible to the tech-savvy young generation of India. He added that they drive the primary product and internet service consumption.
EarlySalary to Democratize Digital Credit Payments to Millenials in India
Akshay added that the rise in demand for zero-touch experience and growing demand for credit cards, even from Tier III and IV cities, inspired the team to unveil the Salary Card.
The Salary Card offers a secure payment to help consumers responsibly. Moreover, any individual can activate the card within seconds by accessing the mobile application of the EarlySalary.
The CEO of NPCI, Dilip Asbe, stated that the NPCI team works with players from several ecosystems; all of them are looking for fast, secure, but straightforward payment solutions. Furthermore, the payment industry is one of the most active sectors in financial services. It evolves continuously via technological and operational innovations in India.
Dilip added that India is turning into an attractive market for developing and testing new payment technologies. And NPCI is looking for innovative ways to offer digital credit to its customers via its partners.
EarlySalary is a mobile application that offers financial assistance to salaried people. The company provides several ranges of products that meet young Indians’ requirements, including instant loans, salary advances, no interest in EMI options, etc. EarlySalary is aiming that its customers would be able to borrow money within minutes.