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Time of India
28-06-2025
- Business
- Time of India
Slice Reimagines Credit Access with UPI-Linked Card
Mumbai: Slice has launched the slice UPI credit card, aiming to integrate formal credit seamlessly into India's dominant UPI payment system. Designed to work like any UPI transaction, the card eliminates the need for physical swipes or cards, offering features like cashback and interest-free EMIs. However, Slice's broader ambition lies in reimagining India's credit infrastructure, not just introducing a new card. Following its merger with North East Small Finance Bank, Slice now operates as a full-fledged bank with complete control over its technology stack, including core banking systems and credit underwriting. The bank on Saturday, opened its first digital-led branch in Bengaluru with the first of its kind UPI ATM. The new ATMs enable withdrawals and deposits using a QR code, eliminating the need for a physical card or account number. Users can scan a QR code at the machine to withdraw cash from any bank account or make deposits, even without entering account details. Slice intends to deploy hundreds of these ATMs across the country in the coming years to ensure broad access. Rajan Bajaj, founder and executive director of Slice, said the bank's goal is to reshape India's credit landscape by extending access to 130 million credit-worthy but underserved citizens. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CLASS Hosts International Forum CityU Learn More Undo 'The traditional credit card model was largely unchanged for 75 years since its inception in America. This needs to be redesigned for India to be able to service 300 million of our citizens who are credit worthy.' He emphasized the role of mobile in this transformation: 'The interface of serving this credit is mobile. But the fundamental source of the money still remains credit.' Slice's experience with new-to-credit customers gives it an edge, with Bajaj noting, '50% of those customers being new to credit… who really understand the credit risk of these customers where small ticket sizes are relevant.' Bajaj added that Slice's credit model has 'performed 30% better historically than the market,' making it ideal for reaching underserved segments at scale. He pointed out how UPI simplifies credit disbursement by enabling approval 'at the point of transaction,' removing the need for physical credit cards: 'The physical one just can be a physical like virtual card.' According to him, most co-branded cards focus on the same group of 40–50 million users, whereas Slice aims to go beyond: 'For the 300 million credit-worthy individuals in India, access to a credit card would be a game changer for them. ' Bajaj sees this shift as transformative, comparing it to UPI's rise over the past decade: 'We think UPI credit card is that same moment for India… ten years from today it'll be like one of the biggest moments of UPI unlocking credit for the entire economy.' A key differentiator is Slice's ability to underwrite customers who were previously excluded. Bajaj claimed their Customer Acquisition Costs are '10 times lower than traditional banks,' thanks to a mobile-first approach and strong word-of-mouth. This enables Slice to offer credit to a much broader customer base and across more merchants: '60, 70 million merchants' versus '5, 6 million merchants' in the traditional credit card system. The average transaction size is expected to fall from ₹2,500 to smaller amounts, making it 'more relevant for this large 300 million population of India that's credit worthy.' Transparency is also central to Slice's offering. Bajaj emphasized the need to give users control over repayments: 'People can control the way they are paying… if they want to roll over, this is the extra interest that they'll end up paying.' The card includes a 'flagship 3 months free installment' feature, allowing users to convert purchases into equal payments: 'Instead of 90 days one shot, you are getting 1667 rupees for three months… in this cycle, next month cycle and then the next next month cycle. ' Beyond credit cards, Slice is expanding its banking model. While continuing with loans like personal and SME credit, it is focusing on scalable digital products. Bajaj sees Slice's future as rooted in financial inclusion. With half of its customer base being new to credit, the bank is focused on serving '130–140 million Indians who are not even eligible for formal credit today.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Russia Today
11-06-2025
- Politics
- Russia Today
International Forum of Ministers of Education kicks off in Russia
The 3rd International Forum of Ministers of Education, 'Shaping the Future', officially opened on Wednesday in the Russian city of Kazan, in Tatarstan, bringing together high-level delegations from more than 30 countries for two days of dialogue and exchange. The forum has drawn the participation of education ministers and officials from nations such as the UAE, Belarus, Abkhazia, South Ossetia, Myanmar, Laos, the Central African Republic, Cameroon, Burkina Faso, Zimbabwe, and others. This year's agenda focuses on global challenges and trends in education, including digital transformation, the role of AI and online learning, inclusive education, education quality and equity, and the evolving role of teachers in modern society. Participants will also explore ways to advance national education systems and boost international cooperation. The forum is a comprehensive platform for collaboration, exchange, and future-focused strategy in the face of the rapid transformation of global education systems. Addressing the forum, Russian President Vladimir Putin stated that ensuring access to modern, high-quality education is a common goal for participants of the event. 'This is a fundamental condition for social justice, reducing poverty and inequality, and improving the quality of life in our countries,' he said in a video address. Speaking on the historical role of educators, Foreign Minister Sergey Lavrov noted that this forum takes place in the year of the 80th anniversary of Victory in World War II. 'Teachers made a vital contribution to that victory, continuing their duties in the harshest wartime conditions and setting an example of resilience and courage,' Lavrov said. Russian Education Minister Sergey Kravtsov, who moderated the opening session, emphasized the forum's regional significance, saying the Russian education system 'continues to grow stronger despite unjustified pressure.' He expressed readiness to share Russia's experience with international guests. Presidential aide Vladimir Medinsky highlighted the connection between education and national sovereignty, saying the quality of 'school teaching either helps children to grow up to be independent citizens of a sovereign country, or let their minds be filled with the knowledge instilled by other nations.' Speaking at the opening session, Myanmar's education minister, Nyunt Pe, said Russia has consistently supported his country in reforming the education system. He added that he hopes to learn about digital transformation in education, as well as sharing experiences with representatives of ministries from other countries. Zeljka Stojicic, the minister of education and culture of Bosnia and Herzegovina, said the forum provides an opportunity to learn from colleagues' experiences regarding the effective development of the education system.
African Manager
19-05-2025
- Business
- African Manager
Energy Transition in Tunisia and Mediterranean Partnership
Energy transition is a crucial challenge for Tunisia. By diversifying its energy sources and reducing its dependence on fossil fuels, the country can enhance its energy security, cut greenhouse gas emissions, and create new jobs. The direction is clear, and the ambition is set: Tunisia aims to green its energy mix by focusing on renewable sources. The goal is ambitious—reaching 30% renewable energy by 2030, equivalent to a production capacity of 4,800 megawatts (MW). However, the reality on the ground is far from ideal. Strengthening Mediterranean partnerships for a successful transition The success of Tunisia's energy transition depends on reinforcing Mediterranean partnerships in this field, stated the Secretary of State for Energy Transition in Sorrento, Italy. Tunisia is ready to play its role in this domain and share its expertise to build a sustainable energy future while ensuring energy supply at both national and regional levels, he said during the International Forum 'Towards the South' held on May 16-17 in the Italian city, according to the Ministry of Industry, Energy, and Mines. The official outlined the key pillars of Tunisia's 2035 Energy Strategy and the reforms undertaken by the ministry to diversify the energy mix. He emphasized the importance of deeper regional integration to address energy market instability and support industrial development. Spotlight on the ELMED Project The Secretary of State also held discussions highlighting the ELMED project, a future Tunisia-Italy electrical interconnection, set to become the first high-voltage direct current (HVDC) link between Europe and Africa. This project is backed by the European Union, described as Tunisia's 'strategic partner' in the energy sector. On the sidelines of the forum, the official met with Algerian Energy Minister Mohamed Arkab, accompanied by the CEOs of Sonatrach and Sonelgaz, to discuss the development of a tripartite electrical interconnection between Tunisia, Algeria, and Libya. Additionally, he held talks with Nicola Monti, CEO of Italian energy group Edison, on cooperation in energy innovation. Funding for Municipal Energy Efficiency Projects The National Agency for Energy Conservation (ANME) has launched a second call for applications to finance municipal energy efficiency projects, with the deadline approaching soon. Selected municipalities will be eligible to request loans from the Local Authorities Support and Loan Fund (CPSL). This initiative is part of the ACTE Program, led by ANME in collaboration with the Ministry of Environment, CPSL, and the Training and Decentralization Support Center. The call aims to encourage Tunisian municipalities to develop innovative green projects in three key areas: Energy efficiency, optimizing energy use in municipal buildings, vehicle fleets, and public lighting networks, renewable energy, primarily self-consumption projects to reduce reliance on fossil fuels and territorial studies, improving municipal energy performance, including urban mobility studies. The ACTE Program continues to drive local energy transition, building on a first call in 2020 that selected 11 projects, now underway. These projects, worth 2.7 million dinars, received a grant exceeding 837,000 dinars from the Energy Transition Fund (FTE). Eligible municipalities (under Decree No. 2014-3505 of September 30, 2014) can apply for this mechanism. While municipalities must provide self-financing, they can also secure CPSL loans. FTE grants cover 20% to 70% of total project costs, with ceilings ranging from 20,000 to 100,000 dinars (…).
Al Bawaba
04-03-2025
- Business
- Al Bawaba
Samsung Receives 58 Accolades at iF Design Awards 2025
Samsung Electronics Co., Ltd. today announced that it received a total of 58 awards at the International Forum (iF) Design Awards 2025, a prestigious German international design competition. Included among the honors was a Gold Award for Samsung's Ballie and advanced concept package design for small portable projectors, 'BOJAGI'. Founded in 1953 as Die Gute Industrieform e.V., the iF Design Awards evaluates a comprehensive range of factors, including differentiation and impact, across a total of nine categories: Product Design, Packaging Design, Communication Design, Interior Architecture, Professional Concept, Service Design, Architecture, User Experience (UX) and User Interface (UI). 'Innovation with AI can help resonate with our customers through the power of design' said TM Roh, President and Head of the Corporate Design Center at Samsung Electronics. 'We will strive to provide designs that harmonize with consumers' changing lifestyles and contribute to society and the lives of our consumers.' Two Gold Awards Recognize Designs That Offer Customized Experiences for Different Lifestyles Ballie, an AI companion robot for the home, acts as a personal assistant that can autonomously drive around the home to complete various tasks. By connecting to and managing home appliances, Ballie can provide a helping hand to users in many situations — continually learning from users' patterns and habits to provide smarter, more personalized services. Advanced concept package design for small portable projectors — named as 'Sustainable Design & Communication, BOJAGI' — was inspired by a traditional Korean tool called bojagi. The design was implemented using scrap fabric, and was designed to be able to package and sustainably be reused regardless of its shape. 58 Awards Ranging From TVs to Home Appliances to Smartphones Samsung Electronics' 58 wins came across all design categories. In addition to the Gold Awards for the 'Ballie' and 'BOJAGI', Samsung received awards in the Product Design category for the Bespoke AI Laundry Combo™, an all-in-one washer and dryer; Galaxy Ring, a wearable device packed with Samsung's powerful sensor technology and Galaxy AI capabilities to help users keep track of their health by simply wearing it on their finger; and the Neo QLED 8K, a TV that provides an immersive experience with the infinity air design. Other products and services that were recognized for design excellence include Foldable Galaxy AI UX, Bespoke refrigerator UX and the Newfound Equilibrium exhibition at Milan Design Week 2024. Foldable Galaxy AI UX enables seamless communication anywhere, anytime with AI-based mobile features like Live Translate, which enables easy conversations with someone in another language. And thanks to the dual screen functionality of Galaxy Z series, you can switch your device into FlexMode so both parties can see the conversation translated in a more natural way. Bespoke refrigerator UX provides various experiences that simplify user's lives, such as managing food lists and controlling connected devices. And the Newfound Equilibrium exhibition showcases Samsung's user centered design philosophy with an aim to inspire vision for a better future that encompasses the balance between people and technology.
