Bengaluru-based digital Banking Platform Anq today announces the launch of a prepaid reward card, the X card powered by Rupay. Designed to promote responsible financial behaviour, this innovative card empowers consumers to spend within their means while earning rewards in the form of Digital Gold and digital assets for each and every transaction.
The X card is a chip-enabled, contactless prepaid card that provides users with an inter-operable and multi-purpose payment solution across the country. The card can be seamlessly availed by customers upon signing up on the Anq banking platform.
Ashish Khandelwal, Co-Founder and CEO of Anq Finance, expressed his excitement about the launch, stating, “As we unveil the X Card and our Bounties platform, we stand at the cusp of a new era in India’s digital finance landscape. Our vision was to create a product that not only simplifies transactions but also enriches every purchase. With the X Card, we’re offering an unparalleled blend of convenience and reward, transforming everyday spends into opportunity for investment. The Bounties platform, a first-of-its-kind rewards program, is our commitment to innovation. We’re excited to lead the charge in India’s rapidly evolving prepaid card and rewards market, redefining the way people think about spending and rewards.”
Anq, a FinTech company co-founded by Ashish Khandelwal, Abhinav AV and Swagat Sarma, has garnered recognition for its innovative approach to digital banking. Backed by prominent angels, including Kunal Shah of CRED, Ashish Sharma of Innoven Capital and investors such as Snow Leopard Capital, Anq offers prepaid cards that provide users with rewards in gold and digital assets for their everyday spending.
Users of the X Card can earn rewards ranging from 1% to 16% on every spend, and the rewards are market linked and uncapped, forming the basis of a passive investment opportunity for customers. Popular brand vouchers are available on Anq’s Shopping Section giving as high as 16% in bounties. Customers can load X card at any given point with maximum INR 2 lakhs for spends.
Just in a few months since the launch, Anq has gained widespread recognition for its prepaid card services, enabling users to earn rewards in gold and digital assets while making everyday purchases at leading merchants, including Swiggy, Zomato, Flipkart, Amazon, and more.
Since its initial product rollout last year, the digital banking platform has onboarded over 2 lakh customers and achieved a staggering 25X growth. To date, the startup has expanded its reach to encompass more than 55 cities across India, strategically aligning with the current dynamics of the Indian financial landscape.
The inclusion of a diverse range of brands in the Rewards Marketplace not only enriches user options but also sets the stage for potential cross-industry partnerships, fostering mutual growth.
Anq’s proactive approach to innovation places it at the forefront of the evolving financial sector, ensuring adaptability to changing consumer preferences and technological advancements in a dynamic landscape.
About ANQ:
Anq is a digital banking platform that works with relevant regulatory partners to provide unique financial products and services to its customers. Anq is creating products which embed asset building in the financial journey of customers. Anq is a trademark of Anq Digital Finserv Private Limited, a company based in India.
