Paisabazaar, RBL Bank Launch ‘Duet Credit Card’
Digital marketplace for consumer credit and free credit score platform Paisabazaar and RBL Bank today announced the launch of their new Co-created credit card ‘Duet’.
Paisabazaar and RBL Bank’s Duet Credit Card provides 2-in-1 benefits
Duet is a 2-in-1 product that meets two distinct consumer needs seamlessly. It’s a credit card that offers cashback on purchases and also a line-of-credit from RBL Bank that enables instant transfer of money into the bank account.
Duet is a lifetime free credit card from RBL Bank, with easy to understand direct cashback benefits. The card provides a flat 1% cashback on all online and offline spends with no upper limit. Duet is exclusively available on the Paisabazaar platform and has an end-to-end digital process. It will be part of Paisabazaar’s neo-lending product suite. Duet will replace Paisa On Demand (PoD) credit card on Paisabazaar.
Utkarsh Saxena, Head Products – Credit Cards, RBL Bank, said, “We are excited to expand our credit offerings through this partnership with Paisabazaar. It will enable us to offer an enhanced Credit Card experience to customers combined with a flexible lending product and several value-added propositions.”
Gaurav Aggarwal, Senior Director, Paisabazaar, said, “At Paisabazaar, we have a clear focus on innovation, through product, process and partnership, to meet existing need gaps of large consumer segments. Duet with RBL Bank is another step in our journey, as we continue to strengthen our neo-lending strategy, aimed to add genuine value to our consumers and the lending ecosystem.”
Paisabazaar is building its neo-lending strategy to cover specific innovation, supply and process gaps within the industry. Its aim is to drive innovative lending solutions and ease access to credit for large segments, across geographies, income levels and credit profiles.
To know more about Duet Credit Card, visit – www.paisabazaar.com/paisabazaar-duet.
Paisabazaar is India’s largest consumer credit marketplace with a 51.4% market share (based on disbursals in Fiscal 2020, as per Frost & Sullivan).
Paisabazaar has 60 partnerships with large banks, large NBFCs, credit bureaus and fintech lenders to offer a wide choice of lending products for consumers on its platform.
Strong partnerships, built through technology and data integration enables Paisabazaar to offer consumers digital and easy processes and faster disbursals.
From application to disbursal, Paisabazaar accompanies the Consumer at each step, providing last-mile assistance such as document collection and assistance until disbursal and advice.
Paisabazaar, since 2017, has also been providing consumers access to credit reports from credit bureaus, offering Consumers lifetime checking and tracking of their credit scores for free. Over 3 crore consumers have checked their free credit score from Paisabazaar.
Paisabazaar has been recognized at several industry platforms with awards like ‘Digital Lending Award’ at the Fintech India Innovation Awards, ‘Excellence in Consumer Lending’ at IAMAI’s India Digital Awards, ‘Outstanding Crisis Finance Innovation (Asia Pacific) Award’ by Global Finance Magazine, ‘Most Innovative Lending Startup’ and ‘Best Fintech Consumer Lender’ by India Fintech Forum and Economic Times ‘Most Promising Brand’.