Bank of Baroda’s subsidiary BOB Financial Solutions Ltd (BFSL) and Snapdeal, in collaboration with National Payments Corporation of India (NPCI) and Japan’s JCB International Co Ltd, has launched the ‘Snapdeal BoB JCB RuPay Credit Card’.
A joint statement by the four partners informed that users of this co-branded contactless credit card might receive up to 5 per cent unlimited cashback on the Snapdeal app and website. Also, activation of the card within 30 days of issuance would entitle the cardholder to shopping benefits on Snapdeal worth up to Rs 500.
The partners said the card also offers 10 Reward points per Rs 100 spent on the departmental store, online, and grocery expenditures. Customers will likely get four reward points for every Rs 100 spent for purchases in all other categories.
In addition to this, cardholders can also enjoy free Add-On cards for family members, easy EMI options, a waiver of a 1 per cent fuel surcharge, and occasional offers across merchants.
BFSL’s MD & CEO, Shailendra Singh, has said that the challenges during the pandemic have resulted in the rapid adoption of digital payments across-the-board. The credit card, according to him, is likely to offer additional value to this large segment of customers that constitute Bharat.
Snapdeal’s President Himanshu Chakrawarti also noted that Snapdeal’s target audience is the mid-income, value-savvy, and price-conscious buyers who predominantly live in the smaller cities of India.