#Slice it all money code#

The most simple examples of prepaid cards are the Sodexo card that some of us get from the employer or the forex cards that we buy when travelling abroad. However, the card these banks issue is not a debit or credit card, itвЂ™s a prepaid card or store value card. Else, whatвЂ™s the use, right? Thus they tie up with a card issuer, which is typically a bank. However, they need a card issuer so that payments can be made anywhere and everywhere. For example, I have Uni 1/3 rd card, but on my credit report name of the lender is NDX P2P, because that company has given me a loan.Д¬ard Issuer/Bank вЂ“The fintech has arranged an NBFC to give loans. The credit enquiry against your name will be from one of these NBFCs. In case, you happen to have any of these cards. It needs to tie up with an NBFC to give loans to customers. More important than that, it has lots of cash from VCs.ДЇinancier/NBFC вЂ“ Since the fintech cannot do lending by regulation. The 3 companies are as follows:ДЇintech/Technology Company вЂ“ This fintech will have the technical expertise to develop such a product. However, these challenger cards are a collaboration of 3 companies coming together, to create a credit card like product. How does Slice, PostPe, Uni 1/3 rd cards differ from credit cards?Д¬redit cards in India are issued by banks. They even may ask you for a compulsory NACH mandate from your bank account for repayment. Even PostPe takes a lot of data from userвЂ™s mobile Not that only SliceIt has such requirements.

#Slice it all money code#

A big red flag to people sharing their referral code widely on social media. What it means is if I refer someone and that person defaults, he/she can be associated with me. The strangest thing was this statement вЂњif someone uses your promotion code, we may associate your name with that person and their usage of the PortalвЂќ.Below is the kind of permission the Slice app needs on your mobile and whats more strange is you cant use the app if you revoke any of these permissions.However, letвЂ™s face it it will be used for recovery purposes in case you default on your payments. The reason stated is вЂњ Your friendвЂ™s or referenceвЂ™s number helps us reach out to you in case we are not able to reach out to you directlyвЂќ. The app takes your friendвЂ™s or referenceвЂ™s contact number.You need to link your Facebook and LinkedIn accounts in Slice app.

I found quite a few strange T&Cs to get a Slice card. Thus, whether itвЂ™s credit cards or pseudo credit cards, if you donвЂ™t pay on time, the late fee and interest payments will screw you. In addition, there could be interest charges also. The thing here is late payment fee itself can be substantial for the amount outstanding. What are the charges and fine print associated with Slice, PostPe and Uni 1/3 rd cards? Charges It highlights that these cards are a collaboration of 3 companies coming together and offering a credit card like product. These cards are targeted towards a segment of customers who are generally not eligible for credit cards.ДЄ quick comparison table of Slice, PostPe and Uni 1/3 cards is below. Uni 1/3 rd card вЂ“ clearly indicates pay in 3 instalments. Their names also make that intent very clear. These are credit line cards or challenger cards that split the bill in 3 or more instalments. Like this: Slice, PostPe, Uni CardвЂ“ what are they?