Fintech firm Rupeek offers instant credit via gold-powered card

Rupeek, an asset-backed digital lending platform, has launched India's first-ever gold-powered card to allow millions of consumers to get highly-recurring credit requirements using their idle gold. This ‘card for everyone’ gives a quick and economical option for people seeking direct credit, according to the company.

The card form factor enables gold monetisation with use-cases otherwise unheard from a gold-powered credit product. This product from Rupeek’s bouquet of offerings is set to revolutionise customer experience and destigmatize availing gold-backed credit in India, the firm said.

"This revolutionary and first-of-its-kind ‘no questions’ asked card gets delivered to the customer’s doorstep in less than 60 mins with a credit limit offered up to ₹50 lakh. The gold-powered card is backed by first-in-the-segment features that are currently unheard of within the existing ecosystem.," according to the firm.

Currently, this card has gone live in 14 cities namely Bangalore, Hyderabad, Mumbai, Pune, Chennai, Kolkata, Jaipur, Rajkot, Vadodara, Vijayawada, Ludhiana, Chandigarh, Ahmedabad, and Surat. Furthermore, plans are underway to add another 16 cities in the next quarter to fulfil the pent-up demand seen for such gold-powered cards, according to the company.

The digital lending firm believes this card is revolutionary and provides a better option over existing card offerings for the following reasons:

-100% instant bank transfer facility

-Doorstep service in 60 mins

-Zero hidden charges

-Instant card activation

-No credit score or income document required

-Complete app control, best & direct rewards

Sumit Maniyar, founder & CEO, Rupeek, said “We are a quintessential goldtech platform, built on disruptive tech and backed by consumer insights that aim to solve credit pain points of a billion Indians. The launch of our first-of-its-kind gold-powered card is one such tech-led offering that is built for the masses, giving them access to uninterrupted credit, at their fingertips. We are growing strength to strength in realising our larger vision to create an indigenous gold monetisation (GoMon) infrastructure that helps unlock growth and credit for all.”