Slice expects to touch 10 lakh credit card issuance by March next year

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New Delhi, Jan 25 (PTI) Payments and credit start-up Slice is planning to triple the credit card issuance to 10 lakh by the end of March 2022.

The company partnered with Visa in October 2020 to launch a zero-fee Slice-Visa card, giving its customers several benefits across both online and offline purchases.

'Within 3 months of launching, Slice has issued over 1 lakh Visa cards. Currently, Slice has close to 3 lakh customers... We expect to issue 1 million cards (in total till date) in the next 12-15 months,' Slice Chief Executive Officer Rajan Bajaj said.

Over 60 per cent of the customers are young working professionals, while the remaining are college students and graduates, he said.

'We are at an annualised transaction volume of close to USD 250 million today. We have our own NBFC called Quadrillion Finance, a wholly-owned subsidiary of Slice, which manages and supports the credit function.

'We periodically keep raising debt funds to support the NBFC (non-banking financial company),' he added.

The company also aims at an annual gross transaction volume run rate of USD 500 million by the end of 2021. PTI DP HRS hrs