SlicePay

What SlicePay does

Slice Small Finance Bank is a scheduled commercial bank regulated by the Reserve Bank of India, formed through the October 2024 RBI-approved merger of fintech startup Slice with North East Small Finance Bank. The bank operates a digital-first, mobile-app-based platform serving retail consumers, MSMEs, and merchants; its headquarters is in Guwahati (with the corporate office in Bangalore, Karnataka) and it has a stated customer base of over 20 million Indians. The platform's core product set comprises a zero-balance savings account paying interest linked to the RBI repo rate with daily crediting, a UPI-integrated credit card usable wherever UPI is accepted, and a Slice Business app offering digital loans up to Rs 5 lakh to MSMEs and merchants at interest rates of 14%-36%. The bank funds its lending from public deposits (savings at 5.5% on balances up to Rs 1 lakh, FDs up to 8.25% for senior citizens) and from its own capital, with revenue derived from interest income on loans, deposit franchise, and UPI credit card transaction fees.

The technology stack is digital-first, with AI-enabled self-service kiosks and computer-vision-assisted onboarding at the Guwahati branch (described as India's first AI-powered phygital banking branch), automated transaction categorization, and UPI integration via NPCI infrastructure; the bank is PCI DSS certified. The go-to-market is product-led growth at scale, adding up to 3 lakh new accounts monthly through digital channels, supplemented by the phygital branch for Northeast India financial inclusion and a recently launched merchant lending business that competes directly with Paytm, PhonePe, and BharatPe. In FY26, the bank reported its first full-year net profit of Rs 48.4 crore on total income of Rs 1,402.7 crore (up from Rs 603.8 crore in FY25), and is in discussions to raise $50-100 million at a sub-$1 billion valuation ahead of a planned IPO within three to four years and a potential transition to a universal bank within five years.

Name

SlicePay

Legal name

slice small finance bank ltd

Website

https://sliceit.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Slice Small Finance Bank is an RBI-regulated digital bank offering savings accounts, UPI credit cards, and MSME loans to 20M+ retail and merchant customers across India, funded by public deposits and own capital.

Ownership category

akta.pro rank

Product category

Digital Small Finance Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Credit Card Issuing (522210)

SIC

National Commercial Banks (6021), Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Financial Inclusion & Basic Banking (Unbanked/Underbanked, Low-Fee Accounts) (FSABAAAL), Corporate Cards & Spend Controls (FSAGAJAF), Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)

Keywords

• Digital banking services
• Small finance bank
• UPI credit card
• Merchant lending
• Savings accounts

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Loans: Slice earns interest income by lending to retail customers and MSMEs through digital loans up to Rs 5 lakh, merchant lending, and credit card services. Interest rates for merchant loans range from 14%-36%.
2. Deposit Taking: The bank accepts public deposits including savings accounts (5.5% rate on deposits up to Rs 1 lakh) and fixed deposits (up to 8.25% for senior citizens on various tenures).
3. UPI Credit Card Services: Revenue from UPI-based credit card transactions used by customers across online and offline merchants.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Slice Small Finance Bank is an RBI-regulated scheduled commercial bank that offers zero-balance savings accounts with repo-rate-linked daily interest, a UPI-integrated credit card, and digital MSME/merchant lending up to Rs 5 lakh through the Slice Business app. It operates a digital-first mobile banking platform supplemented by an AI-powered phygital branch in Guwahati for financial inclusion, supported by rewards programs (Sparks offers, Slice in 3) and AI-powered transaction categorization.

Product overview

Slice Small Finance Bank is a scheduled commercial bank regulated by the RBI, formed through the merger of fintech startup Slice and North East Small Finance Bank in October 2024. The company operates as a digital-first bank offering a unified platform comprising three core products: Savings Account (zero balance account with repo-rate-linked interest and daily payouts), UPI Credit Card (India's most flexible credit solution usable wherever UPI is accepted), and Business Banking (merchant lending and MSME services via the Slice Business app). These core products are enhanced by modular features including Sparks Offers (instant cashback deals), Slice in 3 (installment payments), and Automatic Transaction Categorization (AI-powered spending analytics). The flagship AI-Powered Phygital Branch represents the company's innovation hub, combining AI-enabled self-service kiosks with digital banking infrastructure to deliver instant onboarding, paperless operations, and UPI-based credit access. The company serves over 20 million customers and is trusted by Indians across urban and underserved communities.

Differentiator

Problem solved

Functional benefit

Brands

• Slice Business: Digital lending platform for MSMEs and merchants offering loans up to Rs 5 lakh
• Sparks
• Slice in 3

Products and services

• Savings Account Zero-balance savings account with interest rate linked to RBI repo rate (currently 5.25% p.a.), offering daily interest payouts, automatic transaction categorization, and monthly spending pattern analysis for individual consumers.
• UPI Credit Card UPI-integrated credit card enabling users to access credit wherever UPI is accepted, both online and offline, combining the convenience of UPI payments with credit facility for individual consumers.
• Business Banking (Slice Business App) Digital banking and lending services for MSMEs and merchants via the Slice Business app, offering digital loans up to Rs 5 lakh, instant settlements, and merchant lending solutions at interest rates of 14%-36%.
• AI-Powered Phygital Bank Branch India's first AI-powered 'phygital' banking branch in Guwahati featuring AI-enabled self-service kiosks, paperless operations, instant onboarding, digital passbook printing, and same-day interest, combining physical and digital banking experiences for financial inclusion in underserved Northeast India.
• Sparks Offers (Instant Cashback Rewards) Instant cashback program offering weekly deals on favorite brands with no codes or waiting periods, providing automatic cashback rewards to individual banking customers.
• Slice in 3 (Installment Payments) Installment payment option allowing users to split purchases into three payments, enabling flexible payment experiences for individual consumers.
• Fixed Deposits Fixed deposit products with interest rates varying by tenure; senior citizens can earn up to 8.25% on 5-year terms, with regular rates ranging from 7.1% to 8% across various tenures.

Quantifiable outcome

• 20 million+ customers served
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

One partnership is on record.

• NPCI (National Payments Corporation of India)coreTechnology or Integration · 16 May 2026NPCI MD & CEO Dilip Asbe attended the inauguration of Slice's AI-powered banking branch in Guwahati. Slice leverages NPCI infrastructure for UPI-based banking services including the UPI credit card and instant credit access through UPI interface.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• BharatPe: Indian fintech offering merchant payments and lending products to small merchants and MSMEs. Direct competitor in the merchant lending segment Slice entered via Slice Business.
• Jupiter: India-based neo-bank offering a mobile-first savings account, payments, and consumer credit products. Directly comparable to Slice as a digital-only challenger bank targeting the same mass-market Indian consumer with UPI-integrated products.
• AU Small Finance Bank: Indian small finance bank offering savings accounts, deposits, and MSME/retail lending. Slice's closest direct peer in the small finance bank category with similar deposit-driven model and MSME loan book.
• Niyo: Indian digital banking platform offering savings accounts, UPI payments, and credit products in partnership with licensed banks. Comparable as a digital-first challenger targeting salaried Indian consumers.
• Equitas Small Finance Bank: Indian small finance bank serving underbanked retail and MSME customers with savings, deposits, and lending products. Direct comparable as a tech-enabled SFB targeting similar underserved customer segments as Slice.
• Ujjivan Small Finance Bank: Indian small finance bank focused on financial inclusion and microfinance-plus-banking. Comparable to Slice's Northeast-India financial-inclusion mission and MSME lending focus.
• Fi (by epiFi): Indian consumer neo-bank providing a digital savings account, UPI payments, and credit products in partnership with Federal Bank. Closely comparable to Slice's app-based banking model targeting salaried and urban Indian consumers.

Broad incumbents

• Airtel Payments Bank: Indian payments bank backed by Bharti Airtel serving mass-market and underbanked customers with savings accounts and UPI services. Comparable as a digital-first bank serving similar underserved customer segments.
• Paytm (One97 Communications): Large Indian digital payments and financial services platform with extensive merchant lending and consumer credit offerings. Competes with Slice in merchant lending (Paytm Postpaid) and consumer payments.

Emerging players

• OneCard (FPL Technologies): India-based fintech issuing mobile-first credit cards with UPI integration and rewards. Adjacent competitor to Slice's UPI credit card product with similar digital-native credit-card positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/slicebank
• LinkedInlinkedin.com/company/sliceit
• Instagraminstagram.com/slicepay
• Facebookfacebook.com/sliceitt

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds17 records

Investors35 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SlicePay