UPI-powered bank branch by Slice launched in Bengaluru, marking India’s first digital-only banking facility with no cash or cards, in partnership with NESFB.
“Slice Launches India’s First UPI‑Powered Bank Branch in Bengaluru”
Modern Banking Goes UPI‑Only
Fintech firm Slice has taken a bold step by launching India’s first UPI‑powered physical bank branch and UPI ATM in Koramangala, Bengaluru, on 1 July 2025 Operating under the slab of full-stack banking post its merger with North East Small Finance Bank (NESFB), Slice offers digital-first services—savings, fixed deposits, UPI, lending, and now instant, card‑free banking.
Location & Infrastructure
Located on 80‑Feet Road in Koramangala, a buzzing startup hub, the outlet dispenses instant account openings via digital kiosks and conducts deposits and withdrawals through UPI QR-coded terminals—without cash counters, debit cards, or paper forms A robot assistant enhances customer navigation, reflecting a futuristic branch model.
Slice UPI Credit Card Launch
In tandem, Slice introduced the Slice Super Card, a UPI‑integrated credit card with zero annual/joining fee, up to 3% cashback, and an option to split purchases into three interest-free instalments via “Slice in 3” Users can transact directly through UPI by scanning QR codes linked to their credit line.
Vision of Financial Inclusion
With 400+ million UPI users in India, about 200 million remain underserved by credit options. Slice positions its initiative as a solution—blurring the line between digital-first infrastructure and hybrid banking models, in pursuit of financial inclusion and cost-effective banking
Tech‑Driven & Regulated
Thanks to its merger with NESFB and regulation by the Reserve Bank of India (RBI), Slice claims total ownership of infrastructure—core banking systems, underwriting tech, digital onboarding—unlike typical fintechs relying on partnersThis integration enables swift operations and reduces intermediary costs.
Scalability & Future Outlook
The Bengaluru outlet is a pilot; Slice envisions expansion across India. As Executive Director Rajan Bajaj noted, the goal is to reach 300 million customers and tens of millions of merchant touchpoints, solving scale fraud while making basic banking economically viable for billions The UPI ATM supporting cash deposits and withdrawals also complements this digital‑first strategy.
🧭 Why This News Is Important
Drives UPI-Centric Banking Revolution
This announcement marks a pivotal moment in India’s shift to UPI-first banking. By embedding UPI throughout the branch experience—from account creation to cash withdrawal—Slice offers a blueprint for modern, seamless banking.
Enhances Financial Inclusion
By merging traditional banking with lightweight, app-like interfaces and offering instant credit via UPI, Slice helps bridge gaps for millions cut off from formal banking because of cost, paperwork, or credit barriers.
Regulatory & Sectoral Implications
The initiative highlights how fintechs—under RBI oversight—can evolve into fully operational banks. This paradigm demonstrates an emerging open-banking ecosystem with fintechs owning end-to-end infrastructure, increasing competition, and encouraging innovation.
🏛 Historical Context
Rise of UPI in India
Launched in April 2016 by NPCI, UPI revolutionized India’s digital payments—growing from 93,000 transactions in its early days to several billions annually, now driving over 60% of all digital payments
Fintech-Bank Mergers
After the RBI allowed Small Finance Bank licenses, several fintechs merged with such banks to expand their offerings and comply with regulation. Slice joined forces with NESFB to become a full-stack regulated bank.
Evolution of UPI Credit Mechanisms
The idea of tying credit cards to UPI emerged in 2023, enabling greater flexibility in digital payments. Slice’s “credit on UPI” model is the realization of that vision at scale, offering simplified credit access at the point of sale.
📊 Key Takeaways from “UPI‑Powered Branch Launch”
| # | Key Takeaway |
|---|---|
| 1 | Slice unveiled India’s first UPI‑powered physical bank branch in Koramangala, Bengaluru, on 1 July 2025. |
| 2 | The branch and UPI ATM use QR‑based transactions—no cards, cash counters, or paper-based forms. |
| 3 | Launch of Slice Super Card: UPI‑linked credit card offering zero fees, 3% cashback, and slice-in-3 instalments. |
| 4 | Slice operates under full-stack, RBI-regulated banking post merger with North East Small Finance Bank. |
| 5 | The initiative targets financial inclusion, aiming for 300 million customers and to reduce costs of banking services. |
FAQs: Frequently Asked Questions 🧠
1. What is Slice and what services does it offer?
Slice is a Bengaluru-based fintech company, now operating as a full-stack bank after its merger with North East Small Finance Bank (NESFB). It provides digital savings accounts, fixed deposits, UPI services, credit cards, and now India’s first UPI-only bank branch and ATM
2. What makes the UPI-powered branch unique?
Located in Koramangala, Bengaluru, it’s the first physical branch that relies entirely on UPI technology—no cash counters, debit cards, or cheques. All banking (withdrawals, deposits, account opening) is via UPI QR codes
3. What is the “Slice UPI Credit Card”?
Named “Slice Super Card,” this credit card connects to UPI, allows QR payments drawing from credit lines, offers up to 3% cashback, and includes a “slice in 3” interest-free instalment feature
4. Who regulates Slice’s banking activities?
Slice became a regulated banking entity through its merger with NESFB, under the jurisdiction of the Reserve Bank of India (RBI)
5. How does this innovation affect financial inclusion?
By digitizing basic banking operations and integrating credit with UPI, Slice aims to lower costs and extend access to banking for underserved populations—aligning with India’s “Digital India” and UPI growth goals
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