redcarpet credit card

1
A SUMMER INTERNSHIP PROJECT REPORT
ON
Training module for sales excutive at
RAJSRI DIAMOND TOOL PVT.LTD.
Submitted in partial fulfilment of
Requirement for the degree of
BBA
Submitted by:
MANOJ GUJAR
150901187
Under the guidance of
Dr. ANURADHA AGARWAL
MANIPAL UNIVERSITY
JAIPUR

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DECLARATION
I hereby declare that the Project report titled "REDCARPET SALES AND MARKETING” is
my original work and has not been published or submitted for any degree, diploma or other
similar titles elsewhere.
This has been undertaken for the purpose of partial fulfilment of BACHELOR DEGREE OF
BUSINESS ADMINISTRATION at MANIPAL UNIVERSITY JAIPUR as a part of
curriculum according to V semester for academic year 2018-19 named as –INTERNSHIP
PROJECT REPORT.
NAMÈ SACHIN SHARMA
Registration no. 161001196
BBA (V SEM) SECTION-A

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ACKNOWLEDGEMENT
It is really a matter of pleasure for me to get an opportunity to thank all the persons who
contributed directly or indirectly for successful completion of the project
report,"Redcarpetup tech pvt. Ltd’’ which is my original work carried out
I wish to express my gratitude to the Marketing Executive ****** for giving me an
opportunity to be a part of their esteem organization and enhance my knowledge by
permission to do a summer training project They provided me with their assistance and
support whenever needed , which has been instrumental in completion of this project. I am
thankful to them, for their support and encouragement throughout the tenure of the project,
I am thankful to my faculty guide Ms ANURADHA AGARWAL from school of business
&Commerce, MANIPAL UNIVERSITY JAIPUR, for being a source of support during this
report preparation period. Last but not the least I am grateful to all the colleagues at
Redcarpet for their kind cooperation and help during the course of my project.
The project turned out to be very knowledge giving and interesting activity for students of
BBA

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TABLE OF CONTENT
Sr no. Content Page
1 Executive Summary
2 Introduction
3 Company profile
4 Credit card
5 Red Carpet funding led by Light speed
Venture
6 Red carpet competitor
7 Competitive Analysis
8 About the Internship:
9 Conclusion
10 Bibliography

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Executive summary
RedCarpet is looking to invest time and resources in grooming future leaders through this
program. We are looking for people who want to make a difference not just to their careers,
but to India itself.
- In this program, that lasts 1.5 years young, ambitious managers train directly under the
founders/CEO. They are given leadership responsibilities and resources along with it.
Candidates are picked from within the existing workforce as well as fresh engineering
graduates.
We want to create the next generation of leaders for RedCarpet and for India. Be a
#MakeForIndia leader.
What will you do once you are in:
1. Deal with the highest levels of organization - directly with the founders and CEO.
2. Build experience and knowledge in the financial and credit markets
3. You will execute high-impact decisions.

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INTRODUCTION
Mission
Our mission is to help students get easy access to credit for any purpose - be it online
shopping, travel, books/tuition, entertainment or food and groceries
Vision
Our vision is to provide financial freedom to all students and support them in their financial
needs
RedCarpet lends to customers in India to finance their online purchases - ecommerce, travel,
etc.In India, credit and finance companies are able to service less than 3% of the customer
base because there is no data, no widespread credit bureaus to profile and score customers.
RedCarpet has access to much more data, including data on your mobile phone. We use this
data to service customers who never had any access to credit before. 90% of ecommerce in
India is cash on delivery. That is almost 4 billion USD of credit floating around - but not
managed and packaged as credit and risk. What it means is that we are building structure
around something that already happens at a large scale in India... just not built right.
By building better credit & lending infrastructure, we want to enable more people to access
credit. Our job starts BEFORE you start using a payment gateway or a wallet - we believe the
basic problem in the trillion dollar Indian economy is access to liquidity. Our aim is to
expand the credit economy — simply replacing the legacy credit providers/banks would
probably be a great business success, but it's not all that interesting as a goal. Our company is
built on a foundation of believing in people, believing in their integrity and building
technology around that belief.
Redcarpet pre-pay and order for any online services/product that a student wishes for, be it
enjoying a popcorn tub at the cinemas or travelling to the Himalayas!
India is becoming cashless and Redcarpet is ready to help students to finance their online
purchases. Redcarpet provide credit to students by paying in advance for their real time needs
with no-interest repayment option of 30 Days or 3 months & 6 months EMIs @ 2% interest.
No collateral, no security; just the student will be verified on Redcarpet’s mobile app by
submitting the student-ID and a selfie to get instant credits for their orders.
Redcarpet promises to fulfill a student’s every wish, all they need to do is download, upload,
write and receive!!

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'Credit Card'
A creditcard is a card issuedbya financial companywhichenablesthe cardholdertoborrow funds.
The fundsmay be usedas paymentforgoodsand services.Issuance of creditcardshasthe condition
that the cardholderwill paybackthe original,borrowedamountplusanyadditional agreed-upon
charges.The creditcompanyprovidermayalsogranta line of credit(LOC) tothe cardholderwhich
allowsthe holdertoborrowmoneyinthe formof a cash advance. The issuerpre-setsborrowing
limitswhichhave abasison the individual'screditrating
Difference betweenacredit cardand a smart card?
1. A Credit card is basically an electronic card with magnetic data strip or a chip, issued
to customers by banks and other credit agencies.
2. A smart card contains a special embedded microprocessor, which is a computer
processor or a microchip.
3. Credit cards in the U.S are not very secure and of themselves many still deted card
technology. However consumers are not held liable for this poor security.
4. A Smart cards offer more security and confidentially than any other financial or
transaction storage card the market. They are a safe place to store sensitive or
personal information.
5. A Credit Card Not required to be connected to a checking account.
6. A Smart cards links directly to the Internet.
7. Credit cards are mostly used in online payments, to sell things or the web.
8. A Smart cards widely used in telecommunications industry.

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Benefits Of Student Credit Cards
Today, several leading credit card issuers have a special credit card for students. If you are
pursuing your studies and need a financial tool to meet your daily expenses, you can
definitely go for a student credit card. There are several benefits and conveniences that a
student credit card offers. Some of them are as follows.
•No income proof required: If you are a student and wish to get a student credit card, you do
not have to produce any proof of your income. Also, the entire process takes just a few
documents and thus greatly reduces your hassles.
•Multiple uses: Using your student credit card, you could pay your college tuition fee and
other related charges. If you wish to pay for any online course that needs to undertake, you
can do so using the card.
•Several offers: A student credit card is usually packed with numerous cash back offers and
discounts which you can avail on multiple categories of transactions. The reward points that
you earn on the card can be redeemed against a host of exciting options.
RedCarpetraises $2.5 million in funding led by Lightspeed Venture
BENGALURU: RedCarpet, a student microlendingstartup that provides loans without credit
card and bank account details, has raised $2.5 million in a funding around led by Lightspeed
Venture Partners.
According to sources, the funds will be used to improve the technology behind risk
evaluation, introduce new student-lending features, hire data scientists and deepen market
penetration. Gurgaon-based RedCarpet, which began operations in November 2015, arranges
loans of up to Rs 60,000 per bo 60,000 per borrower, with the average loan size at Rs 5,000-
8,000.
However, interest-free rates are offered to individuals repaying the loan within a month. “At
one point, the team was contemplating alternative forms of lending that are less risky, but for
now they have decided to stick to student microlending since the market potential is huge and
a winner is yet to emerge,” said an employee on the condition of anonymity.
“The default rate for students tends to be easily over 1%, and the idea is to bring down that
default rate and introduce incentives ..
“The default rate for students tends to be easily over 1%, and the idea is to bring down that

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default rate and introduce incentives for students to save and pay, emphasising the
importance of a good credit score.”
The company declined to comment on the fund raising. It receives up to 500 applications a
day, with 80% of these being rejected, said industry sources. The platform has already tied up
with microfinance institutions and has partnered with select non-banking financial
companies .for loan disbursal.
The low penetration of credit cards and personal loans in the country offers significant
opportunity for start-ups such as RedCarpet, although the spectre of bad loans can be
daunting as India’s public banks grapple with crippling loan defaults.
The startup is led by former Tradus executives Kartik Venkataraman and Sandeep Srinivasa,
and its cofounder Abhay Tamaria. It was earlier backed by famed Silicon Valley accelerator
Y Combinator. The Indian market for loans to college students to buy consumer products is
estimated at about $8 billion (about Rs 53,750 crore), according to RedCarpet.

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FOUNDERS
Co-Founder
Mr. Abhay Tamaria
Die-hard adventurer and thrill seeker, entrepreneur from heart and believes in making most
out of life. Technology evangelist with over 8 years of experience, including general
management of small to mid-size organizations, corporate finance, product development,
digital marketing, business operations, risk management and strategy. Specialties: New
Business Development, General management, Risk Management, Product development,
Strategic planning, Business operations, Product marketing, Relationship management,
Project Management.
CEO
Mr.Kartik Venkataraman
Entrepreneur, accomplished leader with 15+ years of demonstrated success in using analytics,
decision science to improve business performance and drive additional value. Extensive
experience in all facets of online business setup and execution from marketing, pricing and
inventory management to product and site development. Results oriented professional with
proven ability to lead and bring success to complex initiatives. Exceptional people
management ability, capable of developing individuals and creating strong cohesive,
motivated teams to maximize productivity. Strong communicator with excellent interpersonal
skills.
Co-Founder
Mr.Sandeep Srinivasa
Leading the responsibility to build the foundations for scale at RedCarpetUp including
personally hiring and cultivating the people that will scale 10x. Experimenting with process
and operational scaling while building out the product and tech. Has hold his ground doing
Design Sprints at Google. Visible leadership of the company within the broader technology
and investor community and technology outreach programs (open source contributions,
hackathons).

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RedCarpet's Competitors
Affirm is a top competitor of RedCarpet. Affirm was founded in San Francisco, California}
in 2012. Affirm competes in the Internet Software industry. Compared to RedCarpet, Affirm
generates $8M more revenue
.
Pay4Later has been one of RedCarpet's top competitors. Pay4Later is a Private company that
was founded in 2008 in London, England. Pay4Later operates in the Diversified Financial
Services industry. Compared to RedCarpet, Pay4Later has 26 more employees.
Pay4Later has been one of RedCarpet's top competitors. Pay4Later is a Private company that
was founded in 2008 in London, England. Pay4Later operates in the Diversified Financial
Services industry. Compared to RedCarpet, Pay4Later has 26 more employees.

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Competitive Analysis
NUMBER OF EMPLOYEES 50-60
Taking a credit card for your business: How to pick one
Credit cards have become an essential part of our lives and much of it is because of the utility
it provides. Widely accepted across the country, it allows us to carry out transactions even if
we have very less cash on us. Like a credit card for an individual, there are
specialized credit cards for businesses. While many small business owners use their personal
credit card for business purpose, it is not advisable as you may miss out on certain key
features and benefits. Above all it is never smart to mix your personal and business expenses
together. In fact, most banks are pretty aggressive in pushing credit cards with attractive
features for businesses.
Suiting your need – At the outset you should understand what you need the credit card for.
Spends on credit cards are actually unsecured loans and go on to affect your credit rating.
Needs can be different, ranging from making purchases for business or making vendor
payments. One can also have a business credit card for employees, where a specified limit
can be set. Such cards will also allow you to come up with spend tracking, generate reports,
make a detailed analysis of spends, which will enable easy integration with your accounting
solution.
Offers- Credit cards for both individuals and businesses come bundled with offers so that it
encourages the user to swipe more. Offers on credit cards can work out well, so you need to
see what works out best. For example, some business cards allow you to collect air miles that

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you can redeem for an air ticket. Some allow airport lounge access, while others give you
points when you buy fuel from a petrol pump. Some cards give you points when you use it
for dining or entertainmenpurpose. Examine the cards on offer and figure out what works
best for you.
Interest rates and Fees – Credit cards have some of the highest interest rates, so one should
take a look at the rates being quoted by the bank. Banks sometimes quote interest rate on a
monthly basis, so do make sure you annualize it to get a complete picture. Most credit cards
also give you 48 days of interest-free credit period for all your online transactions or
purchases at merchant outlets. This can prove to be handy when undertaking day-to-day
transactions.
Also, keep an eye out for the fees that the card charges. Most business cards have an annual
subscription fee that can range anywhere between Rs 500-Rs 5000. Decide which card you
would want and look at all the fees that come along with it – overdue fees, fees on cash
withdrawal etc.
Credit limit – Credit limit is a function of different things, which includes your perceived
credit risk and profile, you should always ask your credit card issuer on what the limit would
be. You will have to tread a fine line between ensuring you are not stuck with a card that has
very low credit limit or go for a card that have huge credit limits. Always remember credit
card limits are perceived as open loans,
unsecured in nature or something that you can tap into without actually having any collateral
for it. Do remember that too much of unsecured loan or the potential for it can skew the
nature of your credit profile.
At the end do remember to shop around and ask questions. If you make international trips,
you may want a card that is exclusively geared towards that.
Eligibility And Documents Required To Apply ForA Student Credit Card?
To be eligible for a student credit card one needs to be:
 Above 18 years of age
 Must be a college going student. As for the documents, one needs to provide:
 Birth certificate
 Identity card issued by the college/university
 Proof of residential address
 Recent passport size photograph
 PAN card
Which Banks Provide Student Credit Cards In India?
Though the concept of student credit card is quite new in India, there are banks that are
offering the cards to the students. Some of the banks that are offering the cards in the country
are:
 State Bank of India
 ICICI Bank
 Axis Bank
 HDFC Bank

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How Are Student Credit Cards Different From Other Credit Cards?
Unlike other credit cards, student credit cards do not come with a lot of features. Moreover,
the cards have a low monthly credit limit and come with low-interest rate and do not come
with a long interest-free payment tenure.
Features of Student Credit Cards 2018:
Credit Limits: Student credit cards have a lower credit limit compared to other credit cards
offered by banks. On average, a student credit card has a credit limit of Rs. 15, 000. This is
done to ensure that the cardholders do not incur debts as a result of unrestricted spending.
Card Validity: Student credit cards are generally valid for a period of 5 years from the issue
date, as compared to regular credit cards which have a 3 year validity period.
Duplicate card free of cost: If the student credit card holder misplaces their card or it is
stolen, a duplicate card would be issued free of cost or at a very nominal charge.
Waiver of fees: Student credit cards often do not have a joining fee and have very low
annual charges, making it easier for students to maintain the cards.
Documentation: Students credit cards do not require exhaustive documentation, unlike most
other credit cards. The bare minimum of documentation is required when applying for a card.
Special deals and rewards: The student cards come bundled with rewards and loyalty
programs that offer cashback or cash points when a certain amount is spent using the card.
The cards also have special offers and discounts on services as well as purchases worldwide.
If the cardholder wishes to, the student credit card can be upgraded to a regular credit card
anytime during the card’s validity.
As seenabove, a student credit card has a number of features that distinguish it from
other cards offered. Some of the banks that offer student credit cards are mentioned
below:
1. SBI Student Plus Advantage Credit Card:
2. HDFC Bank ForexPlus Card:
3. ICICI Bank Student Travel Card:
4. HDFC Multicurrency Platinum ForexPlus Chip Card:
SBI Student Plus Advantage Credit Card:
With the SBI Student Advantage Plus Credit Card, students can learn how to manage their
money prudently. The card comes with an array of features designed exclusively for the
student demographic, such as the ability to convert all purchases to EMI’s, fuel surcharge up
to 2.5 % on all fuel spends charged to the card etc.
The card also has a good rewards program, with every Rs. 100 spent earning the cardholder 1
cash point, which can be redeemed for a range of gifts or used to pay off credit balance, if
any.
The card also comes with a low interest rate of just 2.25% per month.
In addition, railway tickets booked using the card will be delivered to the cardholder’s
doorstep, making travel plans and arranging tickets quick and convenient.

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HDFC Bank ForexPlus Card:
The HDFC ForexPlus Card is a boon for students who study abroad and require easy access
to funds in multiple currencies. This offering by HDFC is a prepaid card which works similar
to a credit card, where the amount is debited directly from the card.
For students living abroad, currency fluctuations are a constant problem. This card protects
cardholders from this as money can be deposited in the card in all major foreign currencies.
Withdrawals and transactions made through the card would also be protected from exchange
rate fluctuations if the transactions are conducted in the currencies that the card is available
in.
Here are the things you can get credit for:
✓ Product Purchase - Need the latest gadget? Chat with us on the app to get credit for the
purchase of products from any e-commerce site in India. Just share the link of the product
from the site or screenshot.
✓ Travel Tickets - Going on a trip? Book train, flight, bus tickets or maybe the entire tour
package on credit. Just share your trip details on chat and you are done.
✓ Recharge and Bill Payment - Short of money for your mobile bills? We'll give you credit
to pay for your mobile, DTH, internet or post-paid phone charges. Just share your operator
details and the amount of recharge.
✓ Movies and Events - Treating friends to movies? Get credit to fund movie, show and
event tickets. Just share your show details to get it instantly booked.
Available cities:
✓ Currently available for students studying primarily in Delhi/NCR region (Delhi, Noida,
Gurgaon, Ghaziabad and Faridabad).
Security:
✓ We don't touch your credit card numbers. We partner with PCI and RBI compliant
payment gateways to store your data. Your credit card data is very safe!
✓All your data in and out from the app is encrypted through secure SSL. We are protected
against the POODLE and SHELLSHOCK vulnerabilities.
✓We use SSL to transmit information securely.
Permissions:
RedCarpet believes in privacy - we don't share your contact details with any third party
marketing company. We commit to protecting your data. We do ask for some permissions
from your mobile phone
✓ Location: We do not automatically access location. We ask for your permission within the
app and it is only shared when you give permission.

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✓ Contacts: To invite your friends via referrals and to calculate your credit limit. We do not
automatically access your contacts. We inform you before reading it and we read it only
when you give us permission.
✓ Call list: To calculate your credit limit. We do not automatically access your call logs. We
inform you within the app before reading it is only shared with us when you give us
permission.
✓ Email Accounts: To associate your email with your account and send your email regarding
your oders placed.
✓ SMS: To validate your phone number and calculate your credit limit.
✓ Photos and media files: We just use it to speed up our app (caching). We do NOT read
your photos or any data.
Privacy Policy:
We collect Personal Data from you when you voluntarily provide such information such as
when you register for access to the Services. For example, we collect your name, phone
number, email address, third party service login credentials, and the messages you send or
receive through the Services. If you provide Personal Data, you acknowledge and agree that
such Personal Data may be transferred from your current location to the offices and servers of
Company and authorized third parties for providing the service.

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About the Internship:
Selected intern’s day –to-day responsibilities includes
1. Thinking new and creative ideas for social media
2. Creating blogs and social media post
3. Coordinating with the designer for post designing
About the work from home job/internship:
Role and responsibilities:
1. Marketing and strategy execution within campus, involving collecting data and using that
data to make meaningful observation
2. Execution of events in campus using data and cohired teams
3. Distribution of Redcarpet merchandise at events of their choice, upselling of our products
REDCARPET STUDENT SMART CARD
Rewards and incentives:
1. Fixed stipend between 2-5K based on their performance,
2. Will be getting incentives of 50% sale value on each product sale happened through them
3. Will be getting goodies and prizes at each step of task
Learning opportunities:
1. Will be learning event management and leadership skills (online and offline both)
Selection procedure:
1. First round will be based on resume and assessment questions and final round will be a
telephonic interview

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Conclusion
Our mission: to make credit available to the next billion users.
Red Carpet lends to customers in India to finance their online purchases - ecommerce,
travel, etc. In India, credit and finance companies are able to service less than 3% of the
customer base because there is no data, no widespread credit bureaus to profile and score
customers. Red Carpet has access to much more data, including data on your mobile phone.
We use this data to service customers who never had any access to credit before.
We solely focus on new-to-credit customers in India. RBI's own report
(m.rbi.org.in//scripts/PublicationReportDetails.aspx) mentions that
"Based on international data, India is ranked 28 in “Getting Credit” and the coverage of CICs
accounts for only 19.8% of adult population, as against 100% in several countries"
We are a young start-up trying to drag the world of hyper local offline retail to the connected
mobile world. We have patent pending technology which pulls together internet-of-things,
mobile apps and real world retail.
We think of ourselves as fairly design obsessed and really love to talk about interaction
design, typography and icon-symbolism.
We are fanatical about our customer experience and really solve fundamental problems for
them. We work with several of the top retail brands in Delhi-NCR.
The culture in our office revolves around retail, brands and technology.

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Biblography
 https://www.iimjobs.com/j/redcarpet-young-leadership-development-program-fintech-0-2-
yrs-599872.html
 https://www.owler.com/company/redcarpetup
 https://www.zaubacorp.com/company/REDCARPET-TECH-PRIVATE-
LIMITED/U74999HR2016PTC064093
 https://www.google.co.in/amp/s/m.economictimes.com/small-biz/money/redcarpet-raises-
2-5-million-in-funding-led-by-lightspeed-venture/amp_articleshow/57403598.cms
 http://www.letsintern.com/company/internships-at-Redcarpetup/37730
 https://angel.co/redcarpetup-com-1/jobs/250165-city-head-offline-sales-growth-and-
strategy-lucknow-jaipur-bhopal-chandigarh-ahmedabad
 https://www.redcarpetup.com/smart-card/
 https://www.bankbazaar.com/credit-card/student-credit-card-in-
india.html?ck=Y%2BziX71XnZjIM9ZwEflsyGVqlgowEuCIfeORKabpttu8EYDLPo4PODDlYb2HeJ
M3Y6kVa0rIzPLB%0AlPkhX6C79g%3D%3D&rc=1
 https://inc42.com/flash-feed/redcarpet-lightspeed-funding/amp/

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