Wish Credit Card: PhonePe and Utkarsh SFB Launch
Why in the news
A fintech app and a small finance bank joined hands to offer a digital-first card meant to bring newcomers into formal credit.
Key facts
| Item | Detail |
|---|---|
| Card name | Wish Credit Card |
| Issuer | Utkarsh Small Finance Bank |
| Network | Visa |
| Distribution | PhonePe app |
| Onboarding | 100% digital, instant issuance |
| Target users | First-time credit users in urban and semi-urban areas |
Features
- Customised limits based on profile and spending.
- Rewards: points and cashback on digital payments, shopping and bill payments.
- Security: Visa security protocols with real-time transaction alerts.
- Credit history: helps new users build one.
Objective
The card is meant to widen credit inclusion through flexible, customised and digital credit options.
Exam angle
- Issuer: Utkarsh Small Finance Bank.
- Network: Visa; channel: PhonePe app.
- Theme: credit inclusion for first-time borrowers.