Pune Media

SBI Card, PhonePe launch co-branded credit card

SBI Card and PhonePe introduced a co-branded credit card to reward customers for regular spending. The PhonePe SBI Card is available in two variants, PhonePe SBI Card SELECT BLACK and PhonePe SBI Card PURPLE.

Customers can earn up to 10 per cent reward points on everyday spends like Recharges, Bill Payments, Insurance, Flights, Hotels, Pincode (a hyperlocal delivery app) & more while making purchases on the PhonePe app with the PhonePe SBI Card SELECT BLACK. They can also receive up to 5 per cent reward points on other online purchases.

 

The new cards are based on RuPay and VISA networks. RuPay variants may be linked to UPI for payments across millions of UPI merchants. The VISA cards may be tokenised for online use securely.

The cards reward customers for spending across grocery bills, bill payments, travel bookings, utility bills, insurance premiums, and more. The welcome offer comes back as PhonePe e-gift vouchers, Rs 1,500 for SELECT BLACK and Rs 500 for PURPLE.

Both cards have milestone travel vouchers. SELECT BLACK card members receive a Rs 5,000 travel voucher on annual spends of Rs 5 lakh. PURPLE card members receive Rs 3,000 on Rs 3 lakh annual spends.

It also includes other benefits such as access to domestic lounges, Priority Pass membership for SELECT BLACK customers, and a waiver of 1 per cent fuel surcharge.

The customer can apply for the card and pay bills directly within the PhonePe app. SBI Card MD & CEO Salila Pande stated that the partnership will promote the use of credit cards and digital payments in India. PhonePe CEO Sameer Nigam stated that the association will make formal credit more accessible.

The launch will go live in phases on the PhonePe app.

How to get a PhonePe SBI Card SELECT BLACK and Purple?

To get the card, you need to follow 2 easy steps:

1. Enter details on the PhonePe App

2. Complete KYC with SBI card

Also Read: MEA to conduct special media briefing ahead of Prime Minister’s visit to UK & Maldives from July 23-26





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