Latest news with #UPI-powered
Hindustan Times
04-07-2025
- Business
- Hindustan Times
Bengaluru gets India's first fully UPI-powered bank branch as Slice launches physical outlet. Video
Fintech firm Slice has launched what it claims to be India's first UPI-powered physical bank branch in Bengaluru's Koramangala, offering a fully digital banking experience with facilities like UPI-integrated ATMs, instant account opening, and cash transactions without the use of debit cards. Bengaluru now has a physical branch that allows customers to withdraw and deposit money using the UPI. (MINT) Also Read - Bengaluru: Daughter of murdered top cop Om Prakash vandalises milk booth, case filed The branch, located on 80 Feet Road, an area closely associated with Bengaluru's startup activity, allows customers to deposit and withdraw cash using UPI instead of traditional cards. The setup includes digital kiosks, where customers can open savings accounts using tablets, and a robot that helps guide users within the premises. Take a look at the video The initiative has attracted attention on social media after a video of the branch went viral, showing the robot assistant and UPI-based banking processes in action. A post by the account 'Peak Bengaluru' described the facility as 'a full-blown UPI bank branch,' highlighting its departure from conventional banking, with no forms or debit cards involved. Also Read - Siddaramaiah responds to Kiran Mazumdar-Shaw's criticism, says 'Seeking answers is our duty, not blame' Slice has also rolled out a UPI-linked credit card, which comes with no annual or joining fees, and allows users to make payments through QR codes by drawing directly from their credit line. The card offers up to 3% cashback on purchases and a 'slice in 3' feature that enables splitting payments into three interest-free instalments. The new branch has been positioned as a pilot for what could be a wider rollout of similar UPI-based banking formats. Customers visiting the branch can perform basic banking tasks such as cash deposits, withdrawals, and account setup with minimal human interaction and full UPI integration. Social media reactions to the new model have been largely positive, with several users praising the convenience and speed of the UPI-based setup. Influencer couple Abhi and Niyu, in a post on X, called it a "proud moment for innovation in India", pointing out that the branch eliminates paperwork and reduces wait times through digital onboarding.
Mint
02-07-2025
- Business
- Mint
slice launches first UPI-powered bank branch in Bengaluru
Fintech company slice has rolled out slice UPI credit card and UPI-powered physical bank branch and ATM which accepts cash in Koramangala, Bengaluru. The slice UPI credit card charges no joining or annual fee. It delivers an effortless credit experience that feels as natural as any UPI transaction. Users can simply scan QR codes or make UPI payments, drawing effortlessly from their credit line. The slice UPI credit card rewards customers up to 3 per cent cashback on all spends while the innovative slice in 3 feature offers an instant ability to convert spends into three interest-free instalments. The slice super card advances slice's ambitious vision of democratising formal credit access across India. UPI has revolutionised digital payments for more than 400 million Indians, making most of them credit-eligible in the process. 'In my 40 years of banking, I have witnessed several milestones, but I feel truly proud to be part of what I see as a revolution in how India will perceive banking and finance,' said Satish Kumar Kalra, MD and CEO of slice. 'We are reimagining banking from first principles, building a system where technology, simplicity, and trust come together to serve every Indian. Credit on UPI will be the next big leap for credit access and inclusion in this country, and there is no better way to achieve it than by integrating the entire banking system around it. This is just the beginning of a journey that will redefine banking as we know it.' Unlike much of the fintech industry that relies on third-party banking partners, slice operates as a bank, owning every element of its infrastructure - from core banking systems to advanced underwriting capability. With deep roots in the Northeast, this step into Bengaluru marks a defining moment in the bank's journey toward physical expansion across India and its broader growth story. He adds: 'The real opportunity is to deliver the right form of credit at the point of sale, through a mobile interface, for 300 million customers. Tens of millions of these merchants have never accepted credit cards before, so we must solve fraud at scale while also enabling credit for those who are truly creditworthy. And with slice UPI ATMs we want to reduce the cost of deposit and withdrawal of cash to a level that basic banking services are economically viable for a billion Indians in the future.' The new slice UPI-powered bank branch in Koramangala, Bengaluru, transforms banking from a necessity into an experience. slice customers can now walk into the first digital bank branch to experience unprecedented convenience, speed and ease of access. Customers can make withdrawals as well as deposits to and from the UPI ATM, open accounts and explore other banking products from kiosks. The slice UPI-first digital bank branch delivers complete UPI integration across every customer interaction, instant customer onboarding with streamlined processes, self-service digital experiences that prioritise efficiency and UPI ATM services for cash deposits and withdrawals. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. Visit here for all personal finance updates
Business Standard
01-07-2025
- Business
- Business Standard
slice launches flagship credit card and India's first UPI-Powered Bank Branch
PRNewswire Bengaluru (Karnataka) [India], July 1: slice, which aims to bring banking to every Indian, today launched the slice UPI credit card, a breakthrough credit card designed to transform how India accesses credit. Expanding this vision, slice opened India's first UPI-powered physical bank branch and ATM, pioneering an entirely new banking experience built around simplicity and speed. * Introducing breakthrough UPI credit card, the slice super card * Reimagining banking experience by bringing digital elegance to a physical location * Unveiling the UPI ATM that accepts cash deposits The slice UPI credit card, which charges no joining or annual fee, is designed to be the best credit card for everyone. It delivers an effortless credit experience that feels as natural as any UPI transaction. Users simply scan QR codes or make UPI payments, drawing effortlessly from their credit line. The slice UPI credit card rewards customers up to 3% cashback on all spends while the innovative slice in 3 feature offers an instant ability to convert spends into three interest-free instalments. The slice super card advances slice's ambitious vision of democratizing formal credit access across India. UPI has revolutionized digital payments for more than 400 million Indians, making most of them credit-eligible in the process. Yet more than 200 million of these users remain underserved, forcing them to seek credit on unfavourable terms that ultimately limit their financial potential. "In my 40 years of banking, I have witnessed several milestones, but I feel truly proud to be part of what I see as a revolution in how India will perceive banking and finance," said Satish Kumar Kalra, MD & CEO of slice. "We are reimagining banking from first principles, building a system where technology, simplicity, and trust come together to serve every Indian. Credit on UPI will be the next big leap for credit access and inclusion in this country, and there is no better way to achieve it than by integrating the entire banking system around it. This is just the beginning of a journey that will redefine banking as we know it." slice, which recently merged with NESFB, is uniquely positioned in the market. Unlike much of the fintech industry that relies on third-party banking partners, slice operates as a bank, owning every element of its infrastructure -- from core banking systems to advanced underwriting capability. With deep roots in the Northeast, this step into Bengaluru marks a defining moment in the bank's journey toward physical expansion across India and its broader growth story. "Credit on UPI is going to be the natural next step for how India spends," said Rajan Bajaj, Founder and Executive Director of slice. "The credit card is a 75-year-old product, but in India it must be reimagined, with UPI as the catalyst, to truly realise its potential. If we want to make UPI credit cards meaningful, we must focus on getting the credit part right. It cannot just be a digital layer on top of a traditional credit card." He adds: "The real opportunity is to deliver the right form of credit at the point of sale, through a mobile interface, for 300 million customers. Tens of millions of these merchants have never accepted credit cards before, so we must solve fraud at scale while also enabling credit for those who are truly creditworthy. And with slice UPI ATMs we want to reduce the cost of deposit and withdrawal of cash to a level that basic banking services are economically viable for a billion Indians in the future." The Future of Banking, Starts Today The new slice UPI-powered bank branch in Koramangala, Bengaluru, transforms banking from a necessity into an experience. slice customers can now walk into the first digital bank branch to experience unprecedented convenience, speed and ease of access. Customers can make withdrawals as well as deposits to and from the UPI ATM, open accounts and explore other banking products from kiosks. The slice UPI-first digital bank branch delivers: * Complete UPI integration across every customer interaction * Instant customer onboarding with streamlined processes * Self-service digital experiences that prioritize efficiency * UPI ATM services for seamless cash deposits and withdrawals Together, these innovations represent slice's boldest move to shape a banking future that is digitally native, built around UPI's inclusiveness and universal accessibility. About slice: slice is on a mission to build India's most loved bank. It is reimagining consumer banking in India with simple, transparent, and technology-driven products. Following its merger with North East Small Finance Bank, slice operates as a full-stack bank, offering the slice savings account, slice fixed deposits, slice UPI, slice borrow, the slice UPI credit card and India's first UPI-led bank branch. slice's mission is to make banking faster, fairer, accessible and easier for every Indian. slice is backed by marquee global investors such as Tiger Global, Insight Partners, Advent International, Blume Ventures, and Gunosy Capital.
Economic Times
29-06-2025
- Business
- Economic Times
Slice SFB aiming to close FY26 in the black; not looking to raise any capital
Slice Small Finance Bank has turned profitable on a monthly basis and is aiming to close FY26 in the black, a top official has said. The entity, which came out of a surprising merger between the fintech Slice and the North East SFB a few months ago, is adequately capitalised and not looking to raise any capital, its executive director Rajan Bajaj told PTI. The current focus is to build a pan-India business using the low-cost digital channels, and the entity is not interested in any more mergers, Bajaj said, adding that it may look at transitioning to a universal bank in the next five years. Before the merger, the North East SFB had reported a loss of Rs 441 crore, and Slice was also reporting losses. "We have turned profitable post-tax on a monthly basis and will close the year in profits," Bajaj said. The bank is adequately capitalised and the buffers will also be supported by the profits, he added. As per recent media reports, the bank was aiming to raise up to USD 300 million in capital. It is adding up to 3 lakh new accounts to its base on the back of digital journeys, Bajaj said, pointing out that the savings bank interest rate offering is at par with the RBI's repo rate and the fixed deposit offerings are a notch higher, which is helping in attracting customers. The pace of account opening is the fifth or the sixth fastest in the industry and at par with much bigger rivals, he said. On the lending front, it does consumer credit including unsecured personal loans and business credit which includes loans against property, he said, stressing that the focus is on serving people who may be underserved by the banking system. Aiming for a big increase in its borrowers and loan portfolio, the bank launched a UPI-based credit card on Saturday, Bajaj said, pointing out that over 30 crore of UPI users can be the potential target audience for such an offering. The bank stands to make an interchange of up to 1 per cent depending on where the credit facility is availed, and will also make revenues from rollovers and fees, he said. Bajaj said its personal credit vertical has been able to deliver credit at a cost which is a tenth of the industry courtesy digital inputs, and added that the credit costs are also 30 per cent lower than the industry average because of the analytics engine which is used for diligence. The bank also launched a 'UPI-powered bank branch' in Bengaluru, which can be used by any bank's customers for a slew of transactions, including cash deposits into any account using cash accepting machine, and then remitting the money to any mobile number, Bajaj said.
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Business Standard
29-06-2025
- Business
- Business Standard
Slice SFB aiming to close FY26 in black, not looking to raise any capital
Slice Small Finance Bank has turned profitable on a monthly basis and is aiming to close FY26 in the black, a top official has said. The entity, which came out of a surprising merger between the fintech Slice and the North East SFB a few months ago, is adequately capitalised and not looking to raise any capital, its executive director Rajan Bajaj told PTI. The current focus is to build a pan-India business using the low-cost digital channels, and the entity is not interested in any more mergers, Bajaj said, adding that it may look at transitioning to a universal bank in the next five years. Before the merger, the North East SFB had reported a loss of Rs 441 crore, and Slice was also reporting losses. "We have turned profitable post-tax on a monthly basis and will close the year in profits," Bajaj said. The bank is adequately capitalised and the buffers will also be supported by the profits, he added. As per recent media reports, the bank was aiming to raise up to USD 300 million in capital. It is adding up to 3 lakh new accounts to its base on the back of digital journeys, Bajaj said, pointing out that the savings bank interest rate offering is at par with the RBI's repo rate and the fixed deposit offerings are a notch higher, which is helping in attracting customers. The pace of account opening is the fifth or the sixth fastest in the industry and at par with much bigger rivals, he said. On the lending front, it does consumer credit including unsecured personal loans and business credit which includes loans against property, he said, stressing that the focus is on serving people who may be underserved by the banking system. Aiming for a big increase in its borrowers and loan portfolio, the bank launched a UPI-based credit card on Saturday, Bajaj said, pointing out that over 30 crore of UPI users can be the potential target audience for such an offering. The bank stands to make an interchange of up to 1 per cent depending on where the credit facility is availed, and will also make revenues from rollovers and fees, he said. Bajaj said its personal credit vertical has been able to deliver credit at a cost which is a tenth of the industry courtesy digital inputs, and added that the credit costs are also 30 per cent lower than the industry average because of the analytics engine which is used for diligence. The bank also launched a 'UPI-powered bank branch' in Bengaluru, which can be used by any bank's customers for a slew of transactions, including cash deposits into any account using cash accepting machine, and then remitting the money to any mobile number, Bajaj said.
