Google Pay rolls out UPI-linked digital credit card ‘Flex’ for daily expenses
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New Delhi: Google Pay has introduced a new digital credit card to help with the users’ routine spending, according to The Indian Express.
The digital credit card ‘Flex’ comes just as adoption of credit cards in India still remains low with only 50 million people currently holding them.
Flex is a UPI-enabled, co-branded digital credit card available within the Google Pay app, while retaining the security features of conventional credit card.
Its first version introduced with Axis Bank runs on the RuPay network under the name Google Pay Flex Axis Bank Credit Card, which will take only scanning a QR code.
Google reportedly announced that more issuing partners are to be added over time, thus expanding the facility using its ties with the country’s financial sector.
Requiring no paperwork unlike physical cards, users can directly apply for the card on the Google Pay app in minutes.
Available on the phone immediately after approval, users can use it for payments at offline locations via QR codes alongside for online purchases on platforms where RuPay cards are accepted.
The card offers instant reward system allowing cardholders to earn ‘stars’ at every transaction.
Users can redeem them immediately at 1 rupee per star unlike accumulating points for month-end redemption.
It offers flexibility in payments allowing users to pay balance in full or turn it into EMIs directly within the app.
The digital card allows users to monitor spending and bills in real time alongside setting transaction limits, blocking and unblocking the card temporarily and reset their PIN.