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Future X

Episode 

71

Future of Credit Cards - Innovation and opportunities in Indian Fintech

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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?

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

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We’re looking for the next generation of successful Indian marketplaces. If you’re an early-stage marketplace founder, apply now here or learn more about the #DecodingMarketplaces Startup Hunt.

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Jennifer Phan
Co-founder and CEO, Passionfroot

We’re building Passionfroot 1, an operating system for creators to manage their business.

We’re based in Europe and raised our $ 3.4m pre-seed round from Creandum and US angels such as Vlad (Webflow) and creators like Ali Abdaal.As we’re creating a new category and as the creator economy is global and mostly online, we’re building from Day 1 a global company and product that helps creators monetize around the world.

This brings a lot of complexities especially in terms of payments and taxes as our early users are based both in Europe and the US and deal with cross-border transactions.What are Do’s and Dont’s for European startups who have a global ambition and build products for a global customer base from Day 1. Anything you would do differently?

Krish Subramanian
Co-founder, Chargebee

Thanks @pjbouten! Love how you’ve thought about incrementally shaping a category with a focus on product and service, and only then thinking about getting the message out there vs the other way around.

And totally agree on the distinctions and overlaps both self-serve and enterprise motions share.

Community/Editorial, Relay

Thanks, PJ, for taking the time to address questions from the great vantage of shaping Showpad into a global, enterprise SaaS brand!


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