Fintech startup Basis has launched The Power Card - India's first payment card designed specifically for urban women. Launched in association with India’s largest non-bank card issuer, Transcorp, and powered by RuPay, the card is available for users today!
Basis is building India's financial services destination for women and has created The Power Card keeping in mind women's goals, hopes, fears, and dreams. With this card, one can expect a first-of-its-kind product, with customised features and curated brand-reward programs keeping the urban woman at the centre of it all.
The Basis Power Card is a must have for today’s women. The audience receives a card that is unique, edgy, and most importantly, relevant to their spending and saving habits. And it isn’t pink!
Indian women see a plethora of offers and deals that often aren’t relevant to their consumption habits or the brand they frequent. Cards have been historically designed for the “travelling male” persona. Basis is challenging the status quo. Consumers today see no shortage of reward programs. However, one that is curated and highly relevant for women is something that Basis has pioneered.
Basis has partnered with over 30 women-led, women-focused brands across personal care, intimate care, beauty, healthcare, lifestyle, baby products, and more. Power Card rewards are gamified, making the experience delightful and one that makes customers come back for more. Early adopters of the card love the thoughtful brands' Basis has onboarded as reward partners, and are making The Power Card their preferred payment method.
“I've been using the Basis Power Card ever since it launched and while my banks have offered me cards with many different rewards/incentives, it has been an honour to support an organisation that genuinely cares about women's financial literacy. The app is also superbly informative. And the women-only conversations feel like such a safe space,” says Alfiya, an early adopter of Basis.
“I LOVE the brands I get offers from, as a Power Card member. And I love that there’s a surprise waiting for me every time I transact with the card. Supporting women-run businesses while buying things I need anyway? And getting discounts while doing so? It can’t get better than this. I’m a customer for life!” says Shrutika.
The card has no joining, annual or hidden fees, and also offers upto 1% cashback on transactions. Users can register and get onboarded in a matter of minutes and the activation can be initiated via the Basis app on Android and iOS.
In addition to the financial product, the core of it lies with the Basis Community – one that is bolstered by both, offline at roadshows and events across the country, as well as online meetups and masterclasses. The inclusive community is accessible exclusively for modern Indian women and invokes healthy discussions around investments, insurance, credit, and more. Basis also enables financial education and guidance for its customers which one can find on the Basis app.
Hena Mehta, Co-Founder & CEO of Basis, says, “Women have been left out of the financial system for far too long with products such as spend cards, investments, credit and insurance being tedious offerings to penetrate. Basis is changing that, starting with its hyper-focused Power Card product and the first-of-its-kind rewards program curated for the urban Indian woman. While women control over 80% of consumer purchase decisions in the country, no incentive program truly aligns with our spend patterns, and things we care about. Until now.”
"We’re reimagining a product for millions of women by addressing the inhibitions that come with personal finance. As always, powered by contextual financial education, and giving women what we deserve," says Dipika Jaikishan, Co-Founder & COO of Basis.
The Power Card is a game-changer for today's financially independent woman. Transcorp's Vice President, Ayan Agarwal added, “Basis is one of India's finest card programs for women; and benefits from a community-based approach versus a commercial approach. Transcorp, India's premier non-bank card issuer, is honoured to power this program and has successfully aligned the best of the industry to deliver success to its fintech partners as always!"
Founded by Hena Mehta and Dipika Jaikishan, Basis is a VC-backed startup that is building India's financial services platform for women, powered by financial education and communities. It is reimagining, re-thinking, and re-engineering how women look at and manage their money. The app has been downloaded over 2 lakh times. The Power Card is Basis’ first curated financial product for women, with many more to come.
Transcorp International Limited is a 27 year old RBI (Reserve Bank of India) regulated entity listed on the Bombay Stock Exchange. The Fortune 500 India company offers a host of financial services including the traditional business of Foreign Exchange and Remittances as an Authorised Dealer Category 2 licence holder with 25 branches; and also runs ~1000 State Bank of India outlets. As one of India’s first PPI licence holders, and empowered by RBI’s progressive policies - the company has pioneered and democratised cards in India with its marquee B2B partners. The company was the first non-Bank to launch network cards in India, enable cash withdrawal, wearable payment devices and has over 1.3 million PPI cardholders. Transcorp PPI continues to have a laser focus on B2B financial enablement and works closely with its partners to achieve their fintech goals. The company has powered many industry firsts including RingPay, a contactless payment ring, contactless keychains, biometric cards and RuPay’s first metal card.
Source : Businesswire