Rio.money, a fast-growing fintech company, has launched its new UPI app, which integrates credit features directly into digital payments. The platform has partnered with Yes Bank and the National Payments Corporation of India (NPCI) to unveil the Yes Bank Rio RuPay Credit Card, aiming to revolutionize consumer finance across India.
The Rio.money UPI app allows users to make payments at over 100 million merchants nationwide. Its unique feature is seamless access to credit, offering a convenient and innovative solution for users.
Exciting Features of the Credit Card
The Yes Bank Rio RuPay Credit Card offers numerous benefits, including:
- Zero annual fees
- Credit limits up to Rs 5 lakh
Exclusive cashback rewards: This co-branded card blends the advantages of traditional credit cards with the simplicity of UPI, making it a perfect fit for modern, tech-savvy consumers.
Vision of Rio.money
Riya Bhattacharya, Co-founder of Rio.money, shared her vision for the platform:
“Rio aims to become the go-to UPI app for millions of Indians who seek affordable and innovative financial tools. Our partnership with Yes Bank and NPCI is the first step toward transforming consumer finance in India.”
The app has already gained popularity, with over 10,000 downloads during its beta phase, particularly among users from Tier 2 and Tier 3 cities, indicating its potential to meet the needs of underrepresented markets.
Expert Support for the Collaboration
Yes Bank’s Anil Singh, Head of Credit Cards and Merchant Acquiring, expressed enthusiasm about the partnership:
“We are proud to collaborate with Rio.money to introduce a card that simplifies payments and offers exciting benefits to consumers.”
NPCI’s Nalin Bansal also supported the initiative, emphasizing its role in financial inclusion and responsible credit usage.
Future of Credit on UPI
Credit-on-UPI is rapidly growing and is predicted to surpass traditional credit card usage. Industry experts project the market for such solutions to reach $1 trillion by 2030.
With its innovative offerings, Rio.money is set to capture a significant share of the digital payments market, transforming how Indians make payments and access credit.
