Fintech venture super.money (backed by Flipkart) is scaling up its secured credit card business by partnering with banks (like Axis Bank and others) to issue cards that require low deposits or collateral. These cards target new credit-users, digital-first customers and under-penetrated markets.
Key Features
- Secured credit card: Users can deposit a small amount (or fixed deposit) and get a credit-limit based card.
- Partnership model: super.money works with banks to issue the cards, rather than issuing itself. Example: launch with Axis Bank of a co-branded card on RuPay network.
- UPI-link compatibility: These cards integrate with UPI rails — enabling credit via UPI and QR payments.
Why It Matters
- Opens credit access: For users new to credit or with limited history, secured cards are an easier entry.
- Fintech-bank synergy: Banks get partner reach via Flipkart’s user-base, fintech gets stronger issuance and regulation backing.
- UPI + Credit momentum: Tying secured cards with UPI usage helps build credit behavior anchored in everyday spends.
Keep in Mind
- Secured card means you deposit collateral — you’re not getting unsecured credit.
- Rewards, fees and credit-limit caps may differ significantly from premium unsecured cards.
- Transition path: Check if the secured card offers upgrade to unsecured later, and what terms apply.