DBS Bank India launches its first credit card in partnership with Bajaj Finance
- The co-branded credit card ‘Bajaj Finserv DBS Bank SuperCard’ is designed to de-clutter customers’ wallets and eliminate the need for multiple credit cards
- Customers can choose from 6 variants that offer best-in-class rewards, including a welcome bonus of up to Rs. 20,000 Cash Points, and earn Cash Points on card usage that multiply up to 20X on reaching spends milestone
- The SuperCard provides customers access to exclusive Bajaj Finserv EMI network and Bajaj Finserv Health benefits
- Through the exclusive DBS Card+ mobile app, SuperCard offers a seamless, end-to-end digital experience. The customers will not only be able to control their card, check their spends, use their Cash Points, and pay their bills but also access a personalized lifestyle feed that includes curated offers and lifestyle content
MUMBAI, India, June 7, 2022 /PRNewswire/ — DBS Bank India announced the launch of its first-ever credit card in India in partnership with Bajaj Finance Limited, co-branded as ‘Bajaj Finserv DBS Bank SuperCard‘, powered by Visa. Designed to de-clutter customers’ wallets, the SuperCard eliminates the need for having multiple credit cards.
Both the regular and co-branded credit cards are popular in the market, with customers choosing them for specific benefits. While regular credit cards provide offers and rewards across categories, co-branded cards offer additional benefits on the partners’ products or services as well.
The SuperCard, 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.
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.
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. Our vision is to leverage the strengths of both organisations and offer an end product which guarantees rich rewards and best-in-class customer experience.“
Anup Saha, Deputy CEO, Bajaj Finance Limited said, “It is our constant endeavour to transform how financial services are rendered while keeping our customers at its core. Our partnership with DBS bank for this co-branded credit card further strengthens our position to deliver a seamless customer experience. 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. 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.”
Sandeep Ghosh, Group Country Manager, India and South Asia, Visa said, “As more consumers turn to credit cards for their daily and discretionary needs, they actively seek easier access to credit alongside curated benefits and privileges. 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.”
Some of the benefits are further enumerated below:
- 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+ mobile app 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 also allows customers to receive up to 5% cashback (up to INR 500 per transaction) on the down payment of consumer durable loans at Bajaj Finance EMI network stores
- The SuperCard allows customers to subscribe to various memberships like Disney Hotstar, Zomato Pro via DBS Card+ mobile app and get up to 40% cash back in form of Cash Points
- Other card benefits include 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 easy to convert spends to EMI starting from INR 2500
- 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
Through this partnership, DBS Bank India & Bajaj Finance aims to create an end-to-end digital experience and proposition for customers while catering to a large customer franchise across the geographic distribution of Bajaj Finance Limited.
DBS Bank successfully launched its very first Credit card in partnership with Bajaj Finance Limited (BFL) in the esteemed presence of Piyush Gupta (DBS Group CEO), Surojit Shome (DBS India CEO) and Bajaj Finserv leadership Rajeev Jain (BFL CEO) and Anup Saha (BFL Deputy CEO), Visa leadership Sandeep Ghosh (Group Country Manager, India and South Asia), where they unveiled the Bajaj Finserv DBS Bank SuperCard.
About Bajaj Finance Limited
Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the most diversified NBFCs in the Indian market, catering to more than 50 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product Finance, Personal Loans, Loan against Property, Small Business Loans, Wallet, Co-branded Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities and Rural Finance which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits. Bajaj Finance Limited has the highest domestic credit rating of AAA/Stable for long term borrowing, A1+ for the short-term borrowing, and FAAA/Stable & MAAA (Stable) for its’ FD program. It has a long-term issuer credit rating of BB+/Positive and short-term rating of B by S&P Global ratings.
To know more, visit https://www.bajajfinserv.in
About DBS
DBS is a leading financial services group in Asia with 18 markets. Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Banks of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021. DBS was also ranked No. 1 on Forbes’ list of the World’s Best Banks in India for two consecutive years.
DBS Bank has been present in India for 28 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. DBS provides an entire range of banking services for large, medium and small enterprises and individual consumers in India. In 2016, DBS launched India’s first mobile-only bank, digibank, with ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The bank now has a network of nearly 600 branches across 19 states in India.
DBS provides a full range of consumer, SME, and corporate banking services. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities through supporting social enterprises, as it banks on the Asian way. It has also established an SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and Asia. In 2020, DBS introduced the “Towards Zero Food Waste” initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit of our 30,000+ staff representing over 40 nationalities. For more information, please visit www.dbs.com.
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