New Delhi: In a major push toward digital financial inclusion, Punjab National Bank (PNB) has announced a strategic partnership with Kiwi to enable seamless credit access through the rapidly growing Unified Payments Interface (UPI) ecosystem.
This collaboration aims to provide a frictionless, secure, and inclusive credit experience, particularly targeting customers in semi-urban and rural regions across India.
Launch of PNB Kiwi Credit Card on RuPay Network
As part of the partnership, PNB has introduced the PNB Kiwi Credit Card on the RuPay network. The card is designed to integrate traditional credit services with modern digital payment systems, making everyday transactions more flexible and accessible.
Key Features of the Card:
- Fully digital onboarding for quick and hassle-free access
- Seamless UPI integration, enabling direct credit usage via UPI apps
- Cashback rewards ranging from 0.5% to 1.5% on online transactions
This offering is expected to simplify how users access and utilize credit in their daily digital payments.
Driving Financial Inclusion in Underserved Regions
Speaking on the development, Bibhu Prasad Mahapatra emphasized PNB’s strong physical and digital presence. With over 10,000 branches—60% located in semi-urban and rural areas—the bank is well-positioned to bridge the credit gap for underserved populations. He highlighted that the rapid adoption of UPI in India presents a unique opportunity to merge payments with accessible credit solutions, allowing users to manage their finances more efficiently.
Fintech-Bank Collaboration Gains Momentum
Siddharth Mehta, Co-founder of Kiwi, stated that the partnership reflects growing trust between traditional banks and fintech platforms. He noted that the collaboration aims to transform how customers experience credit by making it more flexible, secure, and widely accessible through UPI.
This move also signals a broader trend in India’s financial ecosystem, where fintech innovation is increasingly complementing established banking infrastructure.
Strengthening Digital Payments Ecosystem
The partnership between PNB and Kiwi aligns with India’s ongoing digital transformation in financial services. By combining UPI’s widespread adoption with formal credit systems, the initiative is expected to enhance financial flexibility for millions of users while promoting responsible credit usage.
About Punjab National Bank (PNB)
Punjab National Bank is one of India’s largest public sector banks, known for its extensive nationwide network and long-standing role in driving financial inclusion. With a strong presence in rural and semi-urban areas, PNB continues to focus on digital innovation and customer-centric banking solutions to meet the evolving needs of its diverse customer base.
