Targets 30 crore Indians with a first-of-its-kind
Scan Now & Pay Later
Vivifi India Finance Private Limited, a
Targeting the 300 million Indians who do not have a credit card, the
first-in-India product will facilitate offline purchases by scanning any UPI QR
code or a UPI ID – a transaction model that has been adopted across
Aligned with our Prime Minister’s vision for a Digital India and Atma
Nirbhar Bharat, Vivifi leveraged the most sophisticated payment
infrastructure in the world and launched a credit line on the UPI platform.
With this launch, Vivifi is challenging the current trend among various
FinTechs that seem to offer small Kirana stores the tools to manage credit risk
but burden them with selling non-core financial products to their customer.
Sharing his insights, Anil commented, “Over 12 million local provisional
/ Kirana stores across the country do not process credit card payments but
offer credit by themselves to retain customers. With this launch, these
micro-entrepreneurs do not have to manage credit risk for themselves but focus
on their core business, as their customers now have access to a meaningful
credit option.”
Vivifi is already making headway in this effort. FlexSalary, its initial
digital credit offering which it launched 3 years ago, is currently receiving
over 5 lakh monthly digital visitors and more than 1 lakh credit applications.
Vivifi believes that FlexPay will provide a true digital credit card like
experience in a country which currently has just 56 Million credit cardholders.
FlexPay is geared to provide 400 million plus under-served customers as
well as prime customers a ubiquitous, contactless credit card-like experience
for the first time in