Getting a credit card is not an option for individuals with no credit history. The same applies to individuals who have a history of bad credit. However, this stream of borrowers presented a goldmine of opportunities.
Lender offered a secured credit card against Fixed deposits opened by individuals with no or bad credit score. It opened up a flow of new opportunities and created new markets for secured borrowing.
2.2 Million
$22.5 Million
The journey of issuing a secured credit card
API Response
{
"mti": "0200",
"pan": "5088XXXXXXXX0005",
"processingCode": "311000",
"transactionAmount": "0000000000000",
"settlementAmount": null,
"cardHolderBillingAmount": null,
"dateTimeTransaction": "0412183004",
"settlementConversionRate": null,
"cardholderBillingConversionRate": null,
"stan": "247972",
"rrn": "242772502272",
"timeLocalTransaction": null,
"dateLocalTransaction": "183008",
"expiryDate": null,
"settlementDate": null,
"conversionDate":null,
"mcc": "6011",
"channel": null,
"acquiringCountryCode": "356",
"posEntryMode": "901",
"cardSeqNumber": null,
"pointOfServiceConditionCode": "00",
"feesAmount": null,
"acquiringInstitutionCode": "720397",
"forwardingInstitutionCode": null,
"track2Data": "5088XXXXXXXX0005=2100XXXXXX000000000",
"authorizationIdResponse": null,
"responseCode": null,
"serviceConditionCode": "520",
"cardAcceptorTerminalId": "TEST1234",
"cardAcceptorId": "TEST12345678901",
"cardAcceptorNameLocation": "M2P KARTHICK TNIN",
"additionalResponseData": null,
"track1Data": null,
"additionalData48": "051005POS010520032940560023105800500999061030000000000000000012000000000000071042103.014.161.0050000000000000000000000003560770401000000000000000000000000000000000105200",
"transactionCurrencyCode": "356",
"settlementCurrencyCode": null,
"cardholderBillingCurrencyCode": null,
"pinData": "419E0B8AAD1D2B2F0000000000000000",
"additionalAmount": "9090356D000000001000",
"chipData": null,
"adviceReasonCode": null,
"posDataCode": "5116615GA000000400051Address",
"privateData1BiometricData": null,
"privateData2EncryptedBiometricData": null,
"networkManagementCode": null,
"originalDataElement": null,
"fileUpdateCode": null,
"replacementAmount": null,
"fileName101": null,
"accountIdentification1": null,
"accountIdentification2": null,
"reservedForPrivateUse": null
}
Optimized lending flows designed to suit all types of lenders - from traditional NBFCs to Consumer Internet Companies to new-age lending startups
Control and track Business spends with a suite of tailor-made lending solutions for Corporate. Just-in-Time funding provides complete flexibility
Empower SMEs with funds as and when they need it. Provide credit Just-in-Time based on earnings of Merchants or draw from Overdraft accounts