OneCard

Happy Independence Day 🇮🇳

𝗦𝗵𝗶𝗳𝘁𝗶𝗻𝗴 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝗶𝗻 𝗜𝗻𝗱𝗶𝗮: 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗳𝗿𝗼𝗺 𝗛𝗼𝘂𝘀𝗲𝗵𝗼𝗹𝗱 𝗖𝗼𝗻𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻 𝗦𝘂𝗿𝘃𝗲𝘆 𝟮𝟬𝟮𝟮-𝟮𝟯 The survey reveals interesting trends in India's spending patterns, one of which is the trend in % composition of monthly per capita expenditure (MPCE). The factsheet of the survey reveals that in rural India, food spending has dipped to 46.4% in 2022-23 from 52.9% in 2011-12 while non-food expenses have crossed the 50% mark for the first time. At the same time, in urban India, spending on food items declined to 39.2% in 2022-23 from 42.6% in 2011-12 and spending on non-food items increased to 60.8% in 2022-23 from 57.4% in 2011-12. 𝗪𝗵𝘆 𝗶𝘀 𝗶𝘁 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁? This and many other insights shared in the Household Consumption Survey are pivotal in understanding the overall economic situation of India and where we are headed. Do you find these numbers relatable? How much of your income goes towards each of the buckets: food vs. non-food expenses? Let us know in the comments.

In a recent poll we conducted on using credit card EMI for large purchases, we received a mixed bag of responses. 42% of respondents said they prefer credit card EMI for large purchases, 17% said they prefer it sometimes, and 40% said they don't prefer it. Using credit and EMI to fund large purchases, is undoubtedly a sensitive topic in India. To address it objectively, one of our latest blogs analyses the pros and cons of using credit card EMI. Read here: https://lnkd.in/daCzJ6r9

More and more people are willing to pay for subscriptions to make things easier, whether it's to watch HD movies without ads or to use premium features of a software. In fact, in a LinkedIn poll we conducted recently, more than 50% of respondents said they have more than 3 active subscriptions at a given time. And, when the number gets higher, managing them all can get tedious. If you subscribe by saving your credit card, you might not always know when your payments are due, how many subscriptions you are paying for, or how many subscriptions you are actually using. At OneCard, we have solved these issues while keeping the principles of simplicity and transparency in mind. Here's how the 𝗦𝘂𝗯𝘀𝗰𝗿𝗶𝗽𝘁𝗶𝗼𝗻𝘀 𝗛𝘂𝗯 works in the OneCard app: ✔️𝗢𝗻𝗲 𝗽𝗹𝗮𝗰𝗲 𝘁𝗼 𝗺𝗮𝗻𝗮𝗴𝗲 𝘁𝗵𝗲𝗺 𝗮𝗹𝗹 Get details of all the services you have subscribed to: currently or some time in the past. ✔️𝗧𝗶𝗺𝗲𝗹𝘆 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿𝘀 Get reminders about upcoming debits at least 24 hours in advance. ✔️𝗦𝗽𝗲𝗻𝗱𝘀 𝘀𝘂𝗺𝗺𝗮𝗿𝘆 Get a summary of how much you are cumulatively spending on your subscriptions. ✔️𝗢𝗽𝘁𝗶𝗼𝗻 𝘁𝗼 𝗱𝗲𝗮𝗰𝘁𝗶𝘃𝗮𝘁𝗲 There's no need to look for a way to deactivate your subscription on the website. To stop paying for a service you no longer need, all you have to do is tap on Deactivate. Have you experienced OneCard yet? https://lnkd.in/d4UuSgYG

In a LinkedIn poll we conducted recently, only 51% of respondents said they preferred paying their credit card bill using the credit card app. 48% of respondents said they pay using third-party apps. One of the top reasons why people prefer using a third-party app is to seek the convenience of making payments. To make things easy for our users, at OneCard, we have designed a smooth in-app repayment experience, so they don't have to rely on anything external. Here's how it works: 𝗙𝘂𝗹𝗹𝘆 𝗶𝗻-𝗮𝗽𝗽 𝗮𝗻𝗱 𝘀𝗲𝗮𝗺𝗹𝗲𝘀𝘀 You won't be redirected to any webpage or asked to enter your card details. All you need to do is click on Pay Now, choose the amount you want to pay, and pay using a payment mode of your choice. Successful payments instantly reflect in your outstanding balance, so you don't need to keep checking the app to confirm whether it got credited. 𝗬𝗼𝘂 𝗰𝗵𝗼𝗼𝘀𝗲 𝗵𝗼𝘄 𝘆𝗼𝘂 𝗽𝗮𝘆 Whether you prefer UPI, cards, or netbanking, the app has multiple payment modes to choose from. If you tend to forget due dates, you can also set up Autopay. The amount of your choice—the minimum amount due or the total amount due will get auto-debited from your chosen bank account on the chosen date. 𝗣𝗮𝘆 𝗶𝗻 𝗽𝗮𝗿𝘁𝘀 𝘄𝗵𝗲𝗻 𝘆𝗼𝘂 𝗺𝘂𝘀𝘁 While paying dues in full is the best, we know circumstances may not always allow it. The app offers options to pay your outstanding in parts, i.e., you can pay your bill in EMI or convert a large transaction to EMI. All the applicable charges are displayed upfront, so you don't need to worry about any hidden charges. Explore One Credit Card: https://lnkd.in/d4UuSgYG

According to a recent article by McKinsey, India's forecasted growth in GDP per capita, accompanied by a rising inclination to travel internationally, will lead to a surge in the number of Indians travelling abroad. It's not surprising, then, that several startups are coming up with innovative solutions to make international travel easy and rewarding for Indians. At OneCard, too, we have been working on building a robust one-stop international travel solution in the form of OneTrips. With OneTrips, you can confidently plan your international travel, even if it's your first time travelling abroad. From finding the right place that fits your budget to estimating forex charges, here's how OneCard can help you plan a fun and stress-free vacation. 𝗙𝗶𝗻𝗱 𝗱𝗲𝘀𝘁𝗶𝗻𝗮𝘁𝗶𝗼𝗻𝘀 𝘁𝗵𝗮𝘁 𝗳𝗶𝘁 𝘆𝗼𝘂𝗿 𝗯𝘂𝗱𝗴𝗲𝘁 You can explore popular travel destinations according to your budget. We have a curated list of travel destinations that start at as low as Rs. 30,000 per person. 𝗚𝗲𝘁 𝗮𝗻 𝗮𝗰𝗰𝘂𝗿𝗮𝘁𝗲 𝗲𝘀𝘁𝗶𝗺𝗮𝘁𝗲 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀 Once you shortlist your dream destination, choose your preferred mode of travel—Economy, Luxury, or Backpacking—and get a detailed expense plan for the chosen travel duration. 𝗠𝗮𝗻𝗮𝗴𝗲 𝗰𝗮𝗿𝗱 𝘀𝗲𝘁𝘁𝗶𝗻𝗴𝘀 𝘄𝗶𝘁𝗵 𝗲𝗮𝘀𝗲 Manage your international transaction settings with just a few taps on the screen. Enable or disable transactions or modify your transaction limits whenever you want. There's no need to make any calls or emails. 𝗦𝗮𝘃𝗲 𝗼𝗻 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀 𝘄𝗶𝘁𝗵 𝗷𝘂𝘀𝘁 𝟭% 𝗳𝗼𝗿𝗲𝘅 Spend without worries because, with OneCard, you need to pay just 1% forex fees. Also, you can use the in-built forex calculator to predict the forex fees you will incur, even before you transact. Have you experienced OneCard yet? https://lnkd.in/d4UuSgYG

India, forever evolving, growing, and prospering as ONE nation.  Here’s wishing each of you a Happy Republic Day! 🇮🇳