Chilean Fintech Tenpo Launches Innovative Credit Card, Poses Competition to Traditional Banking

Tenpo’s new credit card, Chile’s digital account, has reached more than 15,000 issues during its first month of launch. The results were progressively achieved through invitations to clients, a common practice in launching these innovations to the market.

“We are very happy with the first evaluation, which reinforces the loyalty of our users with Tenpo. If we take into consideration the NPS measurement (Net promoter Score), this was 79%, when the average of traditional banks is only 40%, we know that we are just starting out and we have much more to deliver in innovation and service!”, highlights Fernando Araya, Co Founder and CEO of Tenpo .

This credit card, which offers total control over quota, expenses and budget, is available virtually and physically, and can be contracted online with no maintenance or administration cost. Despite the positive reception, the fintech expects to have more than 40,000 cards operating by the end of the year.

With the goal of democratizing finances, Tenpo seeks to provide customers with the ability to adjust the product to their needs, including control of available space. In addition, it offers a financial report that provides information on the debt situation in all regulated financial institutions in Chile. The card also features a loyalty service, the Tenpesos, which offers cashback automatic and personalized.

With more than 2.2 million clients, Tenpo continues its expansion and consolidation as the largest digital account in Chile, competing directly with traditional banking and regulated by the Financial Market Commission (CMF).