In this fintech arena, two credit card contenders OneCard Vs Slice, have emerged as formidable players in the lending sector. These two players have taken the center stage, with their showdown of financial offerings.
OneCard Vs Slice: Company Overview
| PARAMETER | ONECARD | SLICE |
| Founded | 2019 | 2016 |
| Parent company | FPL Technologies | Garagepreneus Internet Pvt. Ltd. |
| Origin | India | India |
| Headquarter | Pune, Maharashtra, India | Bengaluru, Karnataka, India |
| Type | Fintech company | Digital lending platform & fintech company |
| Credit card limit | Not fixed – depends on income and cibil score | Upto Rs.10 lakhs |
| Lending partners includes | SBM Bank, South Indian Bank, Federal Bank, BOB Financial, CSB Bank, etc. | Quadrillion Finance Private Limited, DMI Finance Private Limited, Northern Arc Capital Limited and Vivriti Capital Private Limited. |
| Revenue (2023) | Rs.541.1 crore | Rs.293 crore |
| Valuation (2023) | Between Rs.1,5000 crore – Rs.1,8000 crore | Rs.1,8000 crore |
| No. of users | 6,00,000 (2022) | 12 million (2023) |
The above table describes an overview of OneCard and Slice card companies. For now it can be stated that in terms of revenue OneCard is leading in the race while the valuation of both are nearly the same.
Note: Visit the article- Forex Cards Vs Credit Cards
Detailed Comparison of OneCard Vs Slice card
| PARAMETER | ONECARD | SLICE |
| Credit card limit | Not fixed – varies constantly as it depends on consumers income and other factors. | Upto Rs.10 lakhs & minimum limit is set at Rs.2000. |
| Eligibility criteria | Minimum age of 18 years & Indian citizenship. | Minimum age 18 years & is applicable for both Indian & International use |
| Card availability | For both the salaried and self employed. | Both the individuals – salaried and self-employed can avail the card. |
| Cibil score required | 750 or above | 750 or above |
| Bill payment feature | No split bill feature is provided by OneCard. | Slice cards come with a Split Bill Feature – that splits the bill into three equal installments. This helps users not to pay any extra charge. |
| Forex markup charges | 1% | 0% |
| Validity of card | Valid for both Indian & International use. | Accepted by 99.9% of merchants across India that accept VISA. Slice international transitions are enabled. |
| Reward benefits | Reward points can be maximized upto 5x on top 2 spending’s for a particular billing cycle, and 1 reward points and earned points on every Rs.50 spent that never expires. | Offers a 2% instant cashback on each transaction. |
| EMI Pay option | OneCard provides the facility of EMI paying option. That means you can convert your purchases into EMIs installments. | Slice cards provide the facility to purchase anywhere and pay your bills within a few months. For eg: to pay the credit card bill slice gives a period of 3 months. |
| Time to get the card | Fast and quick, as the process is entirely digital, within a few minutes of authorization of the card digitally you’ll get access to use the virtual card. However, the metallic card will be levied within a few days of authorization. | After submitting the documents and getting approval, the card will be delivered within 48 hours to the applicant. |
| Interest free period | Upto 48 days. | Repay in 3-interest free installments. |
Fees and Charges of OneCard Vs Slice card
| CHARGES | ONECARD | SLICE |
| Joining fee | NIL | NIL |
| Renewal fee | NIL | NIL |
| Annual fee | NIL | NIL |
| Forex charge | 1% | 0% |
| ATM Withdrawal fee | With a minimum ATM withdrawal of Rs.300, 2.5% of charges are applied. | Rs.50 |
| Rent convenience fee | 1.5% on the overall amount. | 1.5% of the entire value of the rental transaction. |
| Late payment fee | On a maximum amount of Rs.1000 (amount due) 2.5% is charged. | If it is upto Rs. 500 – NIL For Rs.501-Rs.2,000 – Rs.15 For Rs.2,001-Rs.10,000 – Rs.40 For Rs.10,001-Rs.25,000 – Rs.100 And above Rs.25,000 – Rs.150. |
While both of these cards come with no annual, joining, and renewal fee, Slice charges different late payment fee amounts based on the late due amount.
Whereas, OneCard charges 2.5% on total amount due, maximum of Rs.1,000.While the charges charged by both the contenders may change or evolve with time.
Summing Up
The major and prominent difference to notice is that Slice card offers a split bill feature, that helps it to split the bill into three equal installments, while there is no such facility present in OneCard.
On the other hand, OneCard offers cards with no fixed credit limit, while Slice comes with a fixed credit card limit upto Rs.10 lakhs. In terms of revenue OneCard is leading in the race, while in terms of customer base Slice is in front as compared to OneCard.
