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, 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 programmes 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. The basis is challenging the status quo. Consumers today see no shortage of reward programmes. 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 brand’s Basis has onboarded as reward partners and is 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.
The card has no joining, annual or hidden fees, and also offers up to 1 per cent 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 roadshows and events across the country, as well as online meetups and masterclasses. The inclusive community is accessible exclusively to 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. The 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 per cent of consumer purchase decisions in the country, no incentive program truly aligns with our spending patterns and the 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!”