Singapore-based neo-banking start-up Stash fin has partnered with Visa to launch co-branded prepaid cards with credit lines, amid a growing propensity towards digital payments.

Singapore-based neo-banking start-up Stash fin has partnered with Visa to launch co-branded prepaid cards with credit lines, amid a growing propensity towards digital payments. The cards can be used at both physical merchant locations and ATMs as well as in online modes where Visa is accepted, underscoring the US-based card network’s strategy to increase its share in the rapidly digitising South Asian market through fintech tie-ups. “We are sitting on a unique opportunity to enable millions of consumers to get closer to their dreams and improve financial inclusion. South Asia is on the cusp of a financial revolution. Our mission is to fuel the aspirations of customers through frictionless banking services with the help of technology,” said founder Tushar Aggarwal. The prepaid card acts like a personal overpublish facility, allowing customers to take loans with ticket-size between Rs 25,000 and Rs 3 lakh, based on their credit profile. Stash fin hopes to tap into customers who are on the lookout for festive shopping discounts, helping them convert their purchases into easy EMIs using their credit line cards. The neo-banking start-up will extend Visa’s commercial offers available on the cards to enhance the product offerings to its users, it said. On the credit line card, customers will have to repay the loan within 12-18 months, unlike credit cards, which will allow them to be financially disciplined. Identify any two stereotypes (prevalent among Indian consumers) that are normally associated with credit card spending. How these stereotypes can be used or broken while designing marketing communication for Credit Line cards? Also suggest which functions of attitude formation can be used by the Credit line cards to communicate its value proposition to the target customer group? [2+4+4=10Marks]

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