India’s First EMI-Driven Credit Card

Why in News?

Unity Small Finance Bank (Unity Bank) and BharatPe have jointly launched India’s first EMI-driven credit card on the RuPay network, developed in collaboration with the National Payments Corporation of India (NPCI).

Key Highlights

India’s First EMI-Driven Credit Card

• The Unity Bank BharatPe Credit Card allows customers to either pay in full or convert their spends into equated monthly installments (EMIs).

RuPay Network & UPI Linkage

• It is being introduced on the RuPay network.
• The card can be linked to UPI, enabling seamless payments at merchants across the country.

Eligibility and Onboarding

• Available for salaried as well as self-employed individuals.
• Customers can apply through the BharatPe app.
• End-to-end digital onboarding, KYC, and credit eligibility checks before activation.