Slice has taken Indian fintech up a notch! On 1 July 2025, the company introduced its flagship Slice UPI Credit Card, alongside India’s first UPI-powered physical bank branch and ATM, located in Koramangala, Bengaluru.
1. What is the Slice UPI Credit Card?
- Zero joining & annual fees – fully free to use
- Functions seamlessly with UPI: scan QR codes, pay via apps, shop online—using your credit line, not a debit account
- Up to 3% cashback on all spends
- Unique “Slice in 3” EMI feature: convert any purchase into 3 interest‑free instalments instantly
This card blends UPI’s convenience with a credit facility—no swipes, just scan-and-go driven by credit.
2. India’s First UPI Branch & ATM
Located in Koramangala, Bengaluru, this pioneering UPI-first branch offers:
- Fully UPI-integrated customer experience: onboarding, account opening, and banking interactions
- Self-service kiosks that mirror the Slice app
- A UPI-powered ATM, allowing both cash withdrawals and deposits—without cards or account numbers
- Streamlined processes, instant onboarding, minimal paperwork
This setup reinforces Slice’s vision: banking designed around UPI’s simplicity and ubiquity.
3. Why It Matters: Financial Inclusion, Reinvented
- Bridging the credit gap: With over 400 million UPI users and more than 200 million lacking formal credit, Slice’s offerings aim to democratise access to affordable credit
- Full-stack fintech: Following its merger with North East Small Finance Bank (NESFB), Slice now controls everything—underwriting, core banking, and infrastructure—without relying on third-party bank partners
- Cost-effective banking: The UPI ATM will reduce deposit and withdrawal costs significantly, potentially making banking viable for a billion users
- Industry-first in India: While RBI-backed traditional banks have also ventured into UPI-linked credit, Slice’s approach integrates credit and UPI from day one, marking a shift in product design
4. Leadership Perspective
| Executive | Insight |
|---|---|
| Satish Kumar Kalra (MD & CEO) | “A revolution in how India perceives banking and finance… Reimagining banking from first principles.” |
| Rajan Bajaj (Founder & Executive Director) | “Credit on UPI will be the next big leap… we must focus on getting the credit part right.” |
Their combined vision: redefine credit by embedding it into everyday digital transactions.
5. Slice’s Financial Momentum
- Recently completed merger with NESFB; now operates as Slice Small Finance Bank
- Raised nearly $400 million, with $220 million in Series B funding from Tiger Global and Insight Partners
- Running profitably on a monthly basis; targeting an IPO within 3–4 years
The launch marks a key milestone in Slice’s roadmap toward scale and eventual public listing.
🌟 Why It’s Good for You
- For card users & UPI enthusiasts: Access credit on UPI with top-tier rewards and flexible EMIs
- For underbanked individuals: Formal credit access becomes easier and cheaper
- For merchants: Accept QR payments drawing from credit lines, expanding sales with minimal friction
What Lies Ahead?
Slice plans to expand its UPI-first branches and ATMs across India, aiming to replicate the Koramangala model at scale. With control over tech and infrastructure, future innovations could include UPI-linked savings accounts, NFC payments, or deeper integrations into merchant ecosystems.
Final Thoughts
Slice’s launch is more than a product update—it’s a fundamental shift in banking in India. By weaving credit into the fabric of UPI payments, Slice is crafting a future where formal credit is accessible, affordable, and integrated into daily life. The card, branch, and ATM together present a bold vision: banking that’s as simple to use as sending a message.