FinTech news in Samsung category

The Samsung Axis Bank Credit Card, powered by Visa, is our next big India-specific innovation that will change the way our customers buy Samsung products and spend on services through a series of industry-leading features. The South Korean giant said it has partnered with the Mumbai-headquartered Axis Bank and global payments processor Visa to launch the cards, which it is calling the Samsung Axis Bank Credit Card. Samsung has launched two credit cards in India, entering a crowded category that sees more than 50 companies fiercely compete for consumers’ attention in the world second largest internet market. Indian banks have issued over a billion debit cards to customers in the country, but fewer than 25 million unique individuals in the nation have a credit card, according to industry estimates.

Today, the startup has also partnered with Standard Bank, headquartered in Johannesburg, South Africa and with a presence in 20 countries across the continent, to offer financial services to millions of workers (like motorcycle taxi operators) in the informal sector through the startup’s proprietary digital loan origination system.