1. Partnership & Product
- Bank: AU Small Finance Bank (AU SFB).
- Cooperation: Cooperated with Kiwi, a Credit on UPI app.
- Product: Introduced the AU KOSMO Credit Card, an online-first credit card that is powered by the RuPay network.
2. Key Features & Functionality
- Fluid UPI Integration: The main thing we will see is that it is possible to directly make credit payments through UPI at both online and offline merchants, without having a physical card at the majority of the points of sale.
- Target Audience: It will specifically target first-time credit users, young professionals, and tech-savvy people.
- Digital Onboarding: The whole process, application to activation is fully digital.
3. Consumer Benefits
- Rewards: Customers are awarded on their UPI transactions.
- Fuel Surcharge Waiver: Provides a 1 waiver on fuel surcharges.
- Affordable: There are no annual or renewal fees associated with the card making it an affordable way to enter into the formal credit.
4. Strategic Objective
- This project will support the overall mission at AU SFB to make financial services inclusive through innovative and affordable digital credit services that are available to customers in urban, semi-urban, and rural settings.
Month: Current Affairs - October 09, 2025
Category: BANKING, FINANCE and BUSINESS