Kiwi provides an all-in-one payment solution that integrates credit card functionality with UPI, allowing users to make transactions directly from their bank accounts or credit cards. The platform offers guaranteed cashbacks and rewards for every payment, addressing the need for a seamless and rewarding digital payment experience.
Funding
$19M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many users in India are limited to using UPI for digital payments, but would prefer to use credit cards to take advantage of rewards and credit lines. Existing solutions do not seamlessly integrate credit card functionality with the widespread UPI payment infrastructure.
Solution
Kiwi provides a virtual RuPay credit card that integrates directly with the UPI payment network, enabling users to make payments to any merchant that accepts UPI. Users can apply for a virtual credit card through the Kiwi app and begin using it within minutes. The platform offers rewards, including cashback on every transaction, and simplifies credit card management by allowing users to track spending, repay balances, and manage their card directly within the app. Kiwi aims to provide the convenience of UPI with the benefits of a credit card, such as rewards and a 50-day interest-free period.
Target Audience
Kiwi targets users in India who prefer using credit cards for digital payments but want the convenience and ubiquity of the UPI payment network.
Features
- Virtual RuPay credit card issuance within minutes
- Integration with UPI for payments to any UPI-enabled merchant
- Cashback rewards on all scan and pay transactions
- Credit card management features, including statement viewing and repayment options
- Card blocking functionality for security
- No joining or annual fees
- Credit score tracking
- 50-day interest-free period on credit card payments