Slice
Indian unicorn Slice offers a new approach to credit cards, providing flexibility for bill payments and expense management, all with a loyalty program.
Slice credit cards are completely free, with no hidden fees or annual dues. They also enable users to split their bills and pay them over a period of up to three months, with no interest charges. In India, where on average only three credit cards are held for every 100 inhabitants, the company is targeting a South Asian market where nearly a billion debit cards are in use.
Most Indians have little or no credit score, but this opens up a considerable opportunity. Rajan Bajaj, founder and CEO of Slice, believes that credit cards have traditionally been perceived as loan products rather than payment tools in the Indian banking sector.
The company targets all credit-eligible individuals, with credit limits ranging from 10,000 rupees (approx. $134) to 10 million rupees (approx. $13,425). It is also striving to simplify traditional banking with an intuitive, interactive app designed for Millennials and Generation Z.
