DBS Bank India has formed an alliance with non-banking finance company (NBFC) Bajaj Finance to launch its first credit card in the country.
The new offering, co-branded as Bajaj Finserv DBS Bank SuperCard, is said to eliminate the need to have multiple cards.
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The arrangement between DBS Bank India & Bajaj Finance is aimed at creating an end-to-end digital experience and proposition for customers.
DBS Bank India said that through its newly launched offering, customers will be able to avail benefits and rewards across different product categories.
Some of the benefits that the firms claim to offer via the card include a welcome bonus of up to 20,000 cash points, application via digital channels, cashback on various memberships and access to a special health plan on Bajaj Finserv Health.
DBS Bank India consumer banking group head Prashant Joshi said: “The credit card space is seeing robust growth. We are confident that the SuperCard developed in partnership with Bajaj Finance will help eliminate the need for multiple cards, widen the access to credit and offer compelling rewards and benefits to our customers, thanks to the BFL franchise network.”
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By GlobalDataThe new credit card will be available in six variants and is powered by Visa.
Bajaj Finance deputy CEO Anup Saha said: “Our digital onboarding journey enables the customer to avail the SuperCard in a frictionless manner across all our digital properties and start using it instantly!
“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.”
