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Virinchi launches Vcard India'S first UPI based credit card


Hyderabad Sept 28, 2019: Hyderabad based Virinchi Limited has launched 'vCard' India’s first UPI based credit card and lending solution, delivered as a MobileApp for the customers.


According to Vishal Ranjan,CEO-vCard, the main objective behind lauching this new innovative vCard is to allow a set up to have a paperless credit card. The newly launched vCard app allowes UPI based payments to any QR and more over it will allow

contextual customer engagement based on location, spending behavior, support and needs.

The vCard also facilitates relevant and local merchant rewards instead of standalone reward point frame work. The app leverages sophisticated and proven Machine Learning as follows:

(a) to under write customers without Credit Bureau history

(b) to provide Chat based Instant & Zero Contact Customer Support

(c) to personalize Customer Service and match individuals to merchant offers, payment


The new app also provides options and default risks through Continuous Cohort Management. The app is a Category Creator “Intelligent replacement to Existing Plastic Credit Cards”, Which solves the existing industry limitation of ‘high cost customer originations’, ‘high

Engagement customer service’ and‘poor small-ticket collection’ while dis- intermediating

the Master/Visa payment network for credit card operations.


The other offering of vCard include would include:

  • UPI Acceptance with up to 30days credit free period: Make UPI based payments upto~7cr+. UPI acceptance network for merchant as well as peer-to-peer payments (PhonePe/ GooglePay/ Whatsapp/ PayTM/BHIM etc.)

  • 15-25% APR Credit Line: Use it as a Credit Line to transfer cash to their own account and convert to EMIs at Personal Loan rates(Un secured Overdraft Facility) Digital Origination, Multiple Lenders: Reduces drop offs, Reduces Origination Costs, Allows credit limits as small as Rs.5000. “Check Eligibility” on Facebook/ Whatsapp/ No Touch Origination.

  • Sophisticated Mobile Engagement, AI based Merchant Matching of Local & Relevant Rewards: IITM Team working on Zero Touch Customer Support, Relevant gratification instead of reward points or spam offers.

  • India has - 4cr credit cards where as 87cr debit cards. This low credit card penetration is due to expensive origination (Rs.5000+ through DSA channels), high engagement customer service (Monthly billing, 24X7 customer support, rewards, merchant disputes etc.) and the banks avoiding small ticket out station collections. Top 5 players control 75% of the market.

v Card has already piloted the business and is actively covering around 1,000 installs through its credit card banking partner-RBL Bank .Additionally, vCard is rolling out the

Merchant UPI services through its merchant services partner Yes Bank.



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