New Delhi. The trend of digital payment is increasing in India and it has become more important in the time of corona epidemic. Along with the big cities of the country, the trend of credit card has increased in small towns as well. At the same time, private sector Federal Bank announced on Wednesday that it has tied up with fintech company OneCard to launch a mobile-based credit card.
The launch will take place ahead of the festive season as Federal Bank aims to capitalize on consumer credit demand, which is expected to peak around the festive season due to the economic revival.
Credit card will be issued within 3 minutes
According to the company, the credit card will be issued within three minutes through the OneCard App. Before the physical card is distributed, it can be activated immediately and used in virtual format.
The target is young working professionals in the age group of 23 to 35 years
Users can control their card through the app – from tracking spend and rewards to setting transaction limits on the card and much more. Federal Bank’s target user base for this offering is young working professionals in the age group of 23 to 35 years.
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