DBS Bank India, Bajaj Finance roll out co-branded credit card
By siliconindia | Monday, 06 June 2022, 11:46 Hrs
DBS Bank India has announced the launch of its first-ever credit card in India in partnership with Bajaj Finance Limited. The Bajaj Finserv DBS Bank SuperCard, powered by Visa, is designed to de-clutter customers’ wallets, eliminating the need to have multiple credit cards.
While regular credit cards provide offers and rewards across categories, co-branded cards offer additional benefits on the partners’ products or services as well, said the firm.
Prashant Joshi, Head – Consumer Banking Group, DBS Bank India, said, “The launch of our first credit card is a milestone for DBS Bank in India. We have designed an end-to-end digital experience for a mobile-first digital-native audience, staying true to our strengths. The SuperCard is a transformative credit card experience curated to eliminate friction in the payments journey and transparency in billing so that customers can Live More and Bank Less."
SuperCard, as a one-of-its-kind offering, will provide its customers with benefits and rewards across different product categories and exclusive benefits on the Bajaj Finserv’s range of products and services available across the country.
Anup Saha, Deputy CEO, Bajaj Finance Limited said, “The Bajaj Finserv DBS Bank SuperCard, as the name suggests, not only provides various industry-first benefits across lifestyle, travel and subscription categories but also provides exclusive Bajaj Finserv EMI network benefits like cashbacks on ‘No-cost-EMI’ loan down-payments & redemption of cash points against the same. It also has Bajaj Finserv Health benefits bundled into it. Bundling all this together, this card is a clear contender to become the most preferred card in our customers’ wallets."
Some of the benefits are as follows:
-The SuperCard will be available in six variants, offering welcome bonus of up to 20,000 cash points. It also multiplies customer’s cash points up to 10x every month on achieving monthly milestone spends. The customers can also enjoy up to 20X accelerated cash points on spending via DBS Card+ and Bajaj Finserv app.
-Customers can apply for the card from the comfort of their homes through all the digital channels of Bajaj Finance Limited and get their paperless KYC completed on the same day, allowing them to start using their card instantly
-The SuperCard allows customers to subscribe to various memberships like Disney Hotstar, Zomato Pro via DBS Card+ App and get up to 40% cash back in form of cash points
-Special health plan on Bajaj Finserv Health which offers deep discounted tele-consultations from physicians across India, airport lounge access, interest-free cash withdrawal for up to 50 days, fuel surcharge waiver, and ease to convert spending up to Rs 2500 in EMIs
-Customers would get access to DBS Delights, an exclusive platform where they can redeem Cash Points and avail of curated offers across top brands in the shopping, dining, travel, and healthcare segment
Sandeep Ghosh, Group Country Manager, India and South Asia, Visa said, "The Bajaj Finserv DBS Bank SuperCard has been designed to offer the best of both worlds. We are excited to partner DBS Bank as they launch their first credit card in India and are confident that the card’s unique value proposition will appeal to a large segment of Indian consumers."