INSIGHTS #71: Future of Credit Cards | Innovation and Challenges in Indian Fintech

Sep 07, 2021

INSIGHTS #71: Future of Credit Cards | Innovation and Challenges in Indian Fintech

Credit cards are one of the most ubiquitous financial products in the world. We all use them everyday, they are part of our lives.

But as the world changes and our spending and consumer behaviour changes along with it,  so have our needs with regard to financial products. We now have different financial behaviors and the exciting field of fintech is ready to serve us according to our own preferences.

Credit cards are the first logical step in this revolution.

Over the last couple of years, several startups in India are trying to disrupt and change the credit card ecosystem in India, and literally all of them are tremendously exciting.

One of the foremost among them is Uni, and Nitin Gupta, the CEO is one of the domain’s most knowledgeable.  

Which is why I’m delighted to present to you this conversation between Rachit Parekh, Vice President at Accel, and Nitin. It’s a far reaching dialogue on the evolution of Indian fintech, what the future holds, global trends, and challenges the field is facing.

The conversation is also insightful in that it makes clear the opportunities that exist in a nascent fintech space like India’s, in which credit cards may be the first step in a boom of new and innovative products the country has never seen. But, and here’s what I think is the more important part of the conversation, Rachit and Nitin also spend time on the regulatory challenges faced by Indian fintech. This is important not just for the fintech and credit card ecosystem, but for anyone who needs to navigate the Indian system.

I learnt a lot from the conversation, and I know you will too. And yes, watch this particular space in fintech. There’s going to be a lot of action here in the decade ahead

  • 0:00 – 8:00: Intro
  • 8:08 – 9:37: Why go after credit card business?
  • 11:35 – 13:36: Global trends in the financial services business
  • 26:39 – 29:11: Challenges in the Indian financial services industry
  • 31:29 – 32:10: Making customer data available  
  • 34:39 – 36:44: How to manage regulators?

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