Monday, December 9, 2024
spot_img

Rio.money Launches UPI App and Credit Card with NPCI

Share post:

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.

NPCI UPI
NPCI Building.

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.

Related articles

The Money Club Raises $2.5 Million in Series A Funding

The Money Club, a digital platform for on-demand liquidity, has raised $2.5 million in its Series A funding...

Annapurna Finance Raises $109.5 Million for Rural Financing

Annapurna Finance Private Limited (AFPL), a leading Micro and SME finance institution in India, has successfully raised $109.5...

UPI Transactions Hit Record High in October During Festive Season

India’s UPI (Unified Payments Interface) reached an all-time high with 16.58 billion transactions valued at Rs 23.50 lakh...

BharatPe Launches ‘Invest BharatPe’ App for Simple Investments

BharatPe, a well-known financial technology company, has launched a new app called Invest BharatPe to make investing easier...

Ready to Revolutionize Your Business?

Request a quote or schedule a call today!