Kiwi, a pioneering fintech platform that enables Rupay credit card transactions through UPI

Ahmedabad Ranks #9 in Credit Card Penetration, Surges to #7 in Spends-Kiwi sees credit cards on UPI adoption in Gujarat growing at a 25% month-on-month

Ahmedabad, 21st November 2024 – Kiwi, a pioneering fintech platform that enables Rupay credit card transactions through UPI, announced today its increasing focus on the Gujarat market. Ahmedabad emerges as a stronghold for credit card adoption on UPI and spends, ranking #7 in the country, while also holding the #9 position in overall credit card penetration.

Kiwi sees Rupay credit cards on UPI adoption in Gujarat growing at a 25% month-on-month. The growing adoption of UPI-linked credit cards in Ahmedabad highlights the city’s preference for UPI payments across both essential and discretionary expenses. Kiwi’s platform taps into this trend, offering consumers the ease and rewards of credit with the simplicity of UPI. With Gujarat as a focal point, Kiwi aims to create a more credit-enabled environment in line with evolving consumer needs.

The scale of UPI’s penetration is evident nationwide, with UPI QR codes reaching 25.64 crore, nearly 33 times more than POS terminals at 77.9 lakh. Ahmedabad stands out for its high density of QR-enabled businesses, which enables seamless UPI usage and fosters a strong foundation for credit-on-UPI adoption. Incentives like cashback and rewards appeal to value-conscious consumers in the city, making credit-on-UPI a natural choice in the growing digital economy.

Mohit Bedi, Co-founder & Business Head of Kiwi, stated, “Gujarat, and Ahmedabad in particular, have a history of embracing innovative financial solutions. It has a strong ecosystem of local and small businesses already empowered by UPI-led QR code payments. Kiwi’s platform empowers consumers to make flexible, easy credit cards payments directly through UPI, seamlessly integrating credit into everyday transactions and furthering financial inclusion in this vibrant market.”

Siddharth Mehta, Co-founder & COO of Kiwi, added, “The adoption of UPI-linked credit cards in Gujarat signifies a clear shift in consumer preferences toward greater flexibility and control over spending. Kiwi is proud to be part of this transformation, offering a solution that merges credit with UPI for faster and safer transactions. As we grow in Ahmedabad and across Gujarat, we’re committed to not only delivering innovative products but also promoting responsible credit usage to support long-term financial well-being.”

Kiwi’s expansion into Gujarat aligns with its national strategy to drive credit access via UPI, meeting the demands of digitally-savvy consumers and deepening credit adoption and penetration. As a TPAP player, Kiwi currently offers Rupay Credit Cards in partnership with Axis Bank and Yes Bank.