Rio

Rio

Financial Services

Building rewarding, secure and easy payments: Power of Credit, Ease of UPI!

About us

We are building world class fintech products for 100 crore Indians. We understand fintech and commerce deeply, and see massive opportunities for new fintechs to build for integration of credit into everyday transactions - big or small. Think bills paid, dreams pursued and happiness delivered all with a simple scan, swipe or click. Founded by Riya Bhattacharya and Vivek Amarnani, our team leverages decades of experience in building consumer-centric, product-driven organizations that create large-scale positive impact within the financial services sector. We are building for scale, and have a high bar for success. On our journey to make credit accessible, we've secured the support of leading investors like Village Global, Blume Ventures, and Better Capital, along with seasoned industry veterans angels including Kunal Shah - CRED, Ranjan Reddy - Bureau, Ramanathan RV - Hyperface, Mohit Sadaani - The Moms Co, Dhyanesh Shah - Mosaic Wellness, Hardayal Prasad - SBI Cards and others – each contributing invaluable early-stage building expertise. Stay tuned, as we set on to make credit easy, convenient, and transformative for all, one step at a time.

Website
https://www.rio.money
Industry
Financial Services
Company size
11-50 employees
Headquarters
Bangalore
Type
Privately Held
Founded
2023

Locations

Employees at Rio

Updates

  • Rio reposted this

    View profile for Vivek Amarnani, graphic

    Founder - Rio Money | Hiring Founding Team

    If we had to list some habit-forming products that have emerged in the last few years, UPI would be at the very top. For millions, making payments is now synonymous with using UPI. It's become a habit. But how do you design products that seamlessly integrate into users' routines? Let's break it down from the lens of UPI: 1. Consistent Triggers UPI’s success starts with its ubiquitous cues. With millions of QR codes across merchants, including in remote villages, QR codes have become a universal payment signal. Each purchase nudges users towards UPI, showing the power of consistent, visible triggers. 2. Simplified Actions The key to UPI’s habitual use is its streamlined action flow: scan, enter amount, add PIN, done. This simplicity reduces friction, making repeated use effortless. Minimizing steps and ensuring straightforward actions are crucial. 3. Engaging Rewards UPI enhances the payment experience with both variable and guaranteed rewards. For years, UPI apps have used variable rewards like scratch cards, adding an element of surprise and anticipation to transactions. Now, enabling credit cards on UPI has introduced guaranteed rewards, such as fixed cashbacks, making every transaction rewarding. This blend of unpredictable and reliable incentives will further boost engagement and satisfaction. UPI’s success is not just about technology; it’s about understanding human behavior and designing around it. What other products do you think have mastered the flow of habit formation? rio.money Rio National Payments Corporation Of India (NPCI) #upi #payments

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  • Rio reposted this

    View organization page for Rio, graphic

    3,307 followers

    The startup life: Exhilarating? Absolutely. Risky? Definitely. But for those who take the leap, it's a career-shaping adventure. Every person who joins Rio takes a chance on us, and in turn, we take a chance on them. It's a shared bet on building something incredible, and the learning curve is as steep as it is rewarding. And so our culture is to take a moment to celebrate every new teammate for joining us. Just dropped out for a quick team lunch to welcome Deyasini Datta to our product team and Rajesh Chodisetti to our engineering team. If you've got the startup spirit or know someone who does, we're hiring for the below roles: 1. SDE 1 Backend 2. Customer Support Associate 3. Customer Success & Operations Lead Tag them or write to Suhasni H. at [email protected]

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  • View organization page for Rio, graphic

    3,307 followers

    The startup life: Exhilarating? Absolutely. Risky? Definitely. But for those who take the leap, it's a career-shaping adventure. Every person who joins Rio takes a chance on us, and in turn, we take a chance on them. It's a shared bet on building something incredible, and the learning curve is as steep as it is rewarding. And so our culture is to take a moment to celebrate every new teammate for joining us. Just dropped out for a quick team lunch to welcome Deyasini Datta to our product team and Rajesh Chodisetti to our engineering team. If you've got the startup spirit or know someone who does, we're hiring for the below roles: 1. SDE 1 Backend 2. Customer Support Associate 3. Customer Success & Operations Lead Tag them or write to Suhasni H. at [email protected]

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  • Rio reposted this

    View profile for Riya Bhattacharya, graphic

    Founder, Rio Money | Ex- Leadership, Navi | Hiring across Tech, Product and Growth

    While credit cards on UPI are just getting started, everyday we get to see a new number that keeps adding to the excitement of building this product. There’s a lot been said about the next chapter of growth in India coming from Tier 2 and beyond. And we are getting to see this happen even in our category. 71% of active credit cards on UPI are from Tier 2+ cities for the largest credit cards player. These users account for 74% of the total spends happening on UPI credit cards. Only goes to say for anyone building a consumer product today, Tier 2+ consumers are the golden segment. What some of the emerging FinTech ideas that have the potential to revolutionize finance in Tier 2+ India? rio.money #fintech #creditonupi

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  • Rio reposted this

    View profile for Jeevithram Mamidala, graphic

    EdTech Marketer | Content Creator

    Well, after ages of scrolling through everyone else's accomplishments on LinkedIn, guess who finally got a "participation trophy"? Yep, me! Snagged a free ticket from Rio to watch the IPL 2024 match. (Don't worry, I won't make you endure a motivational speech about hustle) But hey, while we're on the subject of rewards, let me introduce you to Rio – the credit card that's so generous, it practically throws cashback at you for breathing. Zero joining fee, cashbacks on UPI payments, and a credit-free period that's longer than some relationships :P Thanks, Rio, for making me look like a way cooler cricket fan than I actually am.

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  • Rio reposted this

    View profile for Rishen Dalmia, graphic

    Practicing CA | GST Consultant | Startup Consultant | VCFO | Mentor | Finance Enthusiast

    I had joined Rio early access program and got to watch Mumbai play against Lucknow at Wankhede! The energy and the crowd were absolutely electric and for the Mumbai Indian in me, it was rewarding to see Rohit Sharma play. Thanks to Rio for making this possible, and I have to say I have been really impressed with their UPI credit card. Most of us make many of our daily payments on UPI. And over a month we have ended up spending quite a few thousands on UPI. However, the rewards and returns on these dont go beyond scratch cards (lucky if you win a few rupees once in a while, else stuck with discounts from brands we barely buy from). With Rio’s UPI credit card, one can earn cashback on every UPI payment. Built with the ease of UPI and power of credit, Rio has got to offer a rewarding return on every transaction. And it gets better with a zero joining fee, 50 day credit free period on UPI, on-going offers including free Amazon vouchers. Truly rewarding, both the match and Rio! Get your UPI credit card at rio.money Follow Rishen Dalmia for more such content. PS: The card in the image is a test card that I got my hands on just for the picture. I too am eagerly waiting for their card! #finance #upi #collab #partnership

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  • View organization page for Rio, graphic

    3,307 followers

    Which type of credit card user are you? 👀

    View profile for Vivek Amarnani, graphic

    Founder - Rio Money | Hiring Founding Team

    At Rio we are building a credit card but building any product requires deep user understanding. So who really are the existing credit card users in India? We break it down into four cohorts, The Convenience Users, Short Term Limit Users, The EMI Converter and The Revolver. The Convenience Seekers are consumers who prioritize convenience and often use their credit card for large purchases, and always paying their balances in full each month to avoid interest charges. Cashback or rewards cards are what attracts them towards choice of cards. They may never need anything related to “credit” in the card.  The Short term limit users need the credit card for paying their non discretionary/everyday purchases for managing their cash flows effectively. They mostly pay their balances full in each month, but depend on the Credit limit to ease out monthly payments. They may occasionally not be able to pay their balances fully. This forms the largest part of the “Transactors” Base (i.e - Those who repay Credit Card bills on time).  The EMI Converters are consumers who want to have an affordability for bigger-ticket purchases. For them, splitting their purchases into manageable monthly instalments, and credit cards with low or no-cost EMI options become their go-to choice. Finally, the Revolvers are consumers who tend to carry a balance on their credit card quite often, and depend on cards which may have lower fees or charges. For credit cards, a one-size-fits-all approach rarely exists. So which credit card consumer do you see most around you?    www.rio.money #creditcards

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  • View organization page for Rio, graphic

    3,307 followers

    Rio is on the RuPay credit card network! Scan any QR, Pay with UPI on Rio.

    View profile for Riya Bhattacharya, graphic

    Founder, Rio Money | Ex- Leadership, Navi | Hiring across Tech, Product and Growth

    For a lot of us, Visa, Mastercard, RuPay, Diners or American Express are synonyms to credit cards but these are not credit cards. These are credit card networks.  Credit card networks provide partnering Banks with a payment network. So here is how it works: Visa provides their partner Bank with Visa-branded payment products, which then the Bank uses to offer credit, debit, prepaid, and cash access programs to their customers. Visa itself does not issue cards, extend credit, or set rates and fees for consumers. Your Visa card is a payment card that uses the Visa network for transactions. Same would apply to Mastercard, Rupay, American Express or Diners. Think of credit card networks as the highways that connect cardholders, merchants and banks (for both banks and merchants), ensuring smooth and secure transactions for everyone involved. ️They are a vital part of the approval, clearing, and settlement of card transactions. www.rio.money #creditcards

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