State Bank of India (SBI) and Indian Oil Corporation (IOC) on Thursday launched a co-branded contactless RuPay debit card. A customer, anywhere in the country, can get the card by visiting the SBI's home branch. It is a contactless card and transactions up to Rs 5,000 can be paid for with just a tap.
"We believe this Co-branded Card, with ‘Tap and Pay’ technology, several attractive benefits and associated offers, would not only provide a rewarding experience on purchase of fuel to the cardholders, but also simplify the everyday purchases of customers with secure and convenient contactless payments," the bank's Chairman Dinesh Kumar Khara said
The card will also simplify the everyday purchases of customers with secure and convenient contactless payments, he added.
Using it, cardholders can avail fuel benefits and loyalty points worth 0.75 per cent against purchase of fuel at all retail outlets Indian Oil fuel stations. There is no monthly limit for purchasing the fuel.
Customers can also earn reward points for spends on dining, movies, grocery and utility bills. The reward points can similarly be redeemed for dining, movies, grocery and utility bills, the bank said.
The SBI-IndianOil RuPay Debit Card was launched by Dinesh Kumar Khara, chairman, SBI and Shrikant Madhav Vaidya, chairman, IndianOil, in a virtual ceremony held today.
Key benefits of this Co-branded Contactless RuPay Debit card
- Pay with a tap (contactless card) for a single transaction of up to Rs 5000;
- 6 times Reward Points for every Rs 200 spent at Indian Oil fuel stations;
- Fuel benefits - Cardholder earns loyalty points worth 0.75 per cent against the purchase of fuel at Indian Oil fuel stations;
- No monthly limit for purchasing fuel;
- Earn Reward Points on spends on dining, movies, grocery and utility bills;
- SBI-IndianOil Co-branded RuPay Debit Card can be issued anywhere in India; and
- Apply for a card by visiting SBI’s home branch.
- Redeem Reward Points for dining, movies, grocery and paying utility bills;