Best Fintech Credit Cards in India

In India, digital payments have become very common, especially through UPI. As more people got used to paying online, many Fintech startups started offering new lending services. These include instant personal loans and “Buy Now, Pay Later” (BNPL) options. BNPL lets you buy something now and pay for it later in small parts. Some popular BNPL services in India are Amazon Pay Later and LazyPay.

Some Fintech companies have gone beyond just online BNPL and created physical cards that work like credit cards. These BNPL cards give you a line of credit, which means you can spend now and pay later. Most of the companies that offer these cards are not banks or NBFCs (Non-Banking Financial Companies), so they work together with banks or NBFCs to launch these cards. Just like regular credit cards, BNPL cards are also powered by Visa or MasterCard. You can use them at online or offline stores, and in many cases, you can even earn reward points or cashback when you use them.

There are different types of cards offered by Fintech startups. Some focus on BNPL cards, while others launch actual credit cards by teaming up with banks or NBFCs. For example:

• One Card and Scapia Credit Card are credit cards offered in partnership with financial institutions.
• Gild Credit Card by SMB Bank is a special type of card. It gives you digital gold based on how much you spend. It is backed by a Fixed Deposit (FD), meaning you need to deposit money first. This card gives you about 7.7% interest yearly, and the overall return can go up to 16% depending on your usage.

The main difference between BNPL cards and regular credit cards is how the payments are done. BNPL cards let you split your total spend into smaller monthly payments, which you can pay back over the next few months. This makes it easier to manage big purchases.