Uni Card vs Slice Card: Know The Difference

The Buy Now Pay Later (BNPL) market has been in trend for the past couple of years. Though the concept appears to be similar just like traditional credit cards, however, they are not the same. The BNPL cards are newly emerged Fintech cards that work on a short-term credit line concept. The concept merged with the financial cards and the Buy Now Pay Later cards came into the picture. With these cards, you can avail a service or you can purchase a product on spot and you do not need to pay for the goods or services you used immediately.

With the help of your BNPL card, you can settle the payment in parts. People believe that these Fintech cards work just like the other credit cards. Well, they do have similarities but they are not the same. With traditional credit cards, you have to do lots of paperwork, but with some BNPL cards, you don’t even require a credit score. Also with credit cards, you only get an interest-free period of just 20 to 45 days, but with these new generation cards, you can settle your payments in 90 days.

Today, we are going to talk about the most famous Fintech cards that have changed the way of payments, credit cards, and the trend of the market, the UNI card and the Slice card. Both these fintech cards are very popular as they allow you to enjoy the product or service now without worrying about making a prompt payment. Also, it is very hard to draw a line between these two as they both offer exciting features. Still, we tried to compare both the Fintech cards.

UNI Card and Slice Card: The Basic Information

The UNI Card as mentioned is a Buy Now Pay Later Card that allows you the ability to use a product or to avail a service now and settle your payments later. The cardholder can divide payment into three equal parts and therefore can be paid in the next three months of the purchase date. With the Uni card, you do not need to pay back and settle the transaction within a month, as you have to with credit cards. Rather, you can split your payment into three equal parts installments. The great part is that you don’t have to pay any extra costs with your monthly payment. You just pay back the 1/3 value of the product or service you used. Also, there is no Annual fee for the Uni card, this makes the card lifetime free. Moreover, you do not pay any finance charges on your Installments and also on late payments, but the late payment charges do apply.

The Slice card, on the other hand, is also a Buy Now Pay Later card which does not charge any Joining or Annual fee. Therefore, the Slice card is also a lifetime free card. The card offers exciting reward points called monies that can be redeemed for cashback. Moreover, with the Slice card, you get tons of discount offers for many popular merchants like Zomato, Big basket, Netflix, Swiggy, and many more. The card is a Visa-branded card and is accepted at all the outlets across India. You can grab all these without any requirement of a credit score and much paperwork.

Both these Fintech cards are very popular as they have changed the way of doing payments and are growing and becoming more popular among millennials. Let’s discuss in more detail the features and benefits that these cards offer so that you can choose between them.

The Uni Pay 1/3rd Card

The Uni pay 1/3rd Card is a Buy Now Pay Later Card offered by the Uniorbit Technologies. The card is a Visa Branded card issued in partnership with the RBL Bank, SBM Bank, and the NBFC partner Liquidoans. The card is accepted by around 99.9% of merchants all over India. As the name suggests, the Uni Card allows the cardholder to split their monthly spending into three equal installments that can be paid over the next three months. You do not need to pay any extra charge or any finance charge on the installments. Moreover, the card does not charge any Joining or Renewal Fee, which makes it a lifetime-free card. With the Uni card, you can afford expensive products without worrying about their payments. You do not need to pay the entire amount on the billing date, rather, you have the option to pay off your bill in three installments over the next three months. Also, if you decide to pay the entire amount in one go, then it has its advantages.  The following are the details and features that come along with the Uni Pay 1/3rd Card:

• The Uni Pay 1/3rd Card is a Life time free Card that does not charge any type of Joining or Annual fee. There are no hidden charges related to the renewal fee that you have to pay.
• The card welcomes you with an elegant box delivered to your doorstep. The box contains a chocolate bar, a mask, a personalized baggage tag, and the Uni card itself.
• The main feature of the Uni card is that it provides you the ability to use and purchase expensive items without being concerned about the payment. Being a Buy Now Pay Later (BNPL) card, it offers you to split your payments into three equal installments which can be paid over the next three months. For example, if you do a payment of Rs. 40,000 with the Uni card, you have the option to pay some amount on spot. Let’s say you pay Rs. 10,000 on spot, now you have to pay Rs. 30,000 which you can split into three equal installments of Rs. 10,000 for the next 3 months.
• The Installments made do not attract any finance charge, which makes the payments as No-Cost EMIs.
• The card provides 1% cashback if the cardholder makes the full repayment of the amount that you spent in a given month by the payment due date.
• There are no interest charges on the EMIs and also on the late payments. But, the late payment charges are applicable which vary for the payment amounts. The table below shows a few slabs indicating the late fee applicable on the due amount:
  

  Due Amount (INR)	Late Fee Applicable (INR)
  1 – 250	0
  251 – 1,000	25
  251 – 1,000	100
  2,501 – 5,000	250
  5,001 – 10,000	500
  10,001 – 20,000	1,000

• To apply for the Uni card you do not need a good credit score and also the age requirement is just 18 years.
• The card allows extending the EMIs to even 6, 9, or 12 months which provides ample time for the cardholders to pay back the amount. The company is also planning to provide cardholders with 18-month installment plans.

Slice Super Card

The Slice Super Card is also a BNPL card by SLICE. The card is a Visa-branded card offered in collaboration with SBM Bank. The Slice card is a UPI-enabled card which makes it faster and more flexible. The card offers instant cashback of up to 2% on every transaction you do with the Slice card. Moreover, the card is accepted by all the Visa-accepting merchants all over India. As the card name is slice, it allows you to split or slice your monthly spending into three equal parts and you can pay the amount in installments over the next three months. There is no joining or annual fee for the Slice card, which makes it a lifetime-free card. Moreover, get exciting discount offers and deals across several popular merchants every week. To get the Slice Super Card you do not need any credit score or indulge in any paperwork, which makes it easier for students and individuals with low income to grab the offer. Following are the detailed features of the Slice Super card:

• The Slice Super card is a Lifetime free card as it comes with no joining or annual fee. Therefore, the Slice card is a very affordable card for everyone.
• The Slice card is UPI enabled, which means that you can do your payments easily and fast.
• With the Slice card, you have the ability to purchase items without worrying about the payment. The card offers you to split your payments into three equal installments which can be paid over the next three months.
• The Late payment charges on the Slice Card are lower as compared to other cards. Following are the charges applicable on due amount:
  

  Due Amount (INR)	Late Fee Applicable (INR)
  0 – 500	0
  500 – 2,000	15
  2,000 – 10,000	40
  10,000 – 25,000	100
  Above 25,000	150

• You also get a fuel surcharge waiver of 2% on transactions less than or equal to Rs. 4,000 (max waiver capped at Rs. 200 per month).
• With every transaction you go with the Slice Super card, you get 2% cashback as monies. The monies earned on the Slice Super Card are redeemable for cashback. Note that you do not earn monies even on transactions split into installments.
• You can get exciting discount offers and deals across several popular merchants including Zomato, Swiggy, Big Basket, Netflix, and many more every week.
• You do not need to have a credit score to apply for the Slice card, moreover, the age requirement is also as low as 18 years.

 Uni Card vs Slice Card: Quick Comparison

We got to know a lot about both the cards, and now its time to draw a line between the two and understand the differences between the two cards:

Basis	Uni Pay 1/3rd Card	Slice Super Card
Main Feature	Split your payments into three equal installments which can be paid over the next three months with no Charges applicable	Split your payments into three equal instalments which can be paid over the next three months with no Charges applicable
Reward Points/Cashback	1% cashback if the cardholder makes the full repayment of the amount spent in a given month by the payment due date.	Earn up to 2% cashback on every spend (not applicable on EMIs)
Reward Redemption	NA	Redeem the monies earned for cash back (Reward conversion rate up to 2%).
Welcome Benefit	A box containing a chocolate bar, a mask, a personalized baggage tag, and the Uni card.	NA
Fuel Surcharge waiver	NA	Fuel surcharge waiver of 2% on transactions less than or equal to Rs. 4,000 (max waiver capped at Rs. 200 per month).
Joining/Renewal Fee	NIL	NIL
Late Payment Fee	Starts from Rs. 25 for transaction amount of Rs. 251-1,000 and go up to Rs. 10,000 for transaction amount of Rs. 2,00,001- 10,00,000	Starts from Rs. 15 for transaction amount of Rs. 500-2,000 and go up to Rs. 150 for transaction amount above Rs 25,000.
Interest charges	NIL	Interest charges are applicable on the due amount.
Eligibility	The applicant’s age should be a minimum of 18 years. The applicants should have a stable source of income. No Credit score is required.	The applicant’s age should be a minimum of 18 years. The applicants should have a stable source of income. No Credit score is required.

Bottom Line

The Fintech cards have changed the credit card industry with lots of innovations and technologies. These cards offer lots of benefits just like usual credit cards and at better rate. The Buy Now Pay Later concept has been loved by the people a lot as it offers them the freedom to live with every other privilege. Though the fintech card offers good features, they do have some drawbacks like you cannot use them for international transactions, they don’t offer travel benefits like lounge access, and most of them do not have a good reward rate. Talking about the Uni card and Slice card, they both offer great features and ways to settle the payments. However, if only one card has to be selected, then the Slice Super card is a good option as it offers cashback on every transaction, and offers benefits in fuel as well. Also, the late payment charges are very low as compared to the Uni card, but note that you may face high-interest charges as well. That was all about the fintech cards, if you still have any doubt then do let us know in the comment section below.

Check here: A list of Best Fintech Cards in India