How Slice is Disrupting Credit Cards | Slice Case Study | Rajan Bajaj | Indian Startup Story

How Slice is Disrupting Credit Cards | Slice Case Study | Rajan Bajaj | Indian Startup Story

The Slice Story: A Billion-Dollar Idea: A Super Credit Card!
Rajan had noted that traditional credit cards featured a lot of hidden fees and high-interest rates, which irritated users. As a result, he decided to develop a credit card that lacked all of these features.
As a result, the Slice super card was formed.

What problem is Slice attempting to solve?
The issue is that Indians do not have access to credit. Credit comes in numerous forms, including bank loans, borrowing money from friends and relatives, credit cards, etc. So the issue that Slice is addressing is that Indians do not have access to bank loans or credit cards.

How serious is this issue?
A bank account is held by about one billion Indians. However, banks have only issued 60 million credit cards. This indicates that 970 million individuals are unable to obtain credit. Almost 450 million of the 970 million are credit card qualified but do not receive one.
These 450 million people are "financial untouchables": they have no credit ratings, no credit history, and no credit expertise.
Slice's target market is these 450 million individuals.

How is Slice addressing this issue?
Slice's blockbuster popularity is due to the super card. Slice was launched in 2019 to provide credit to those in need. It's a pay later card, meaning consumers may use it to buy things they need immediately and then pay the balance off over three months at no interest.

How will Slice profit from resolving this issue?
Slice is already profitable by overcoming the credit problem, with a revenue of 35 crores from 50 lakh subscribers. Revenue sources include Interchange, Commissions, Quadrillion, Fees from the EMI partners, Interests, and Late Fees.
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