Fibe, a fintech firm previously renowned as “Early Salary,” is setting new standards in the world of financial technology. In an alliance with Axis Bank, Fibe is planning to introduce India’s very first numberless credit card. This groundbreaking initiative is not just a technical marvel, but it also promises enhanced security for its users.
Traditional credit cards come with printed numbers, expiration dates, and CVV codes, which can be a potential gateway for cyber theft. The numberless feature eliminates these elements from the card’s face. The absence of these details dramatically reduces the risk of identity theft or unauthorized access. Customers can now breathe a sigh of relief knowing their financial details are far from prying eyes. Yet, through the Fibe app, users can seamlessly access their credit card details whenever required.
Perks and Features
Apart from its primary security-focused attribute, the credit card will boast an array of benefits. For those who frequently order food online, the card offers a flat 3% cashback. Additional perks include cashbacks on ride-hailing apps and online entertainment ticketing platforms. Moreover, all online and offline transactions will be eligible for a 1% cashback.
Powering its technological versatility, the credit card can be linked with UPI through RuPay. It will be universally accepted across both digital and offline platforms. There’s a “Tap and Pay” feature for ease of payment, which is likely to become a favorite among users. Remarkably, the card has zero joining fees and no annual charges. This novel card will initially be available to Fibe’s existing 2.1 million-plus customers.
Other advantages comprise four annual domestic airport lounge accesses. Purchases ranging from 400 to 5,000 rupees for fuel will enjoy a fuel surcharge waiver. Dining delights and special Wednesday offers are also part of the package.
Akshay Mahrotra, CEO and Co-founder of Fibe, expressed his enthusiasm about the partnership with Axis Bank. He articulated his vision of empowering customers with a secure payment system, combined with the convenience of UPI payments. The aspiration is to set a new benchmark in the credit card industry.
A favorite among salaried professionals, Fibe is now stepping into the expansive credit card market. After raising a commendable 110 million dollars in its Series D funding last year, the company is widening its reach by rolling out new offerings. Notably, the fintech firm was recently honored as the ‘Best Startup’ in the fintech category at the G20 Digital Innovation Alliance Mega Summit.