Regular and co-branded credit cards are popular in the market, with customers choosing them for specific benefits. While regular credit cards offer offers and rewards across all categories, co-branded cards also offer additional benefits on partner products or services.
The SuperCard, a one-of-a-kind offering, will provide its customers with benefits and rewards in different product categories and exclusive perks on Bajaj Finserv’s range of products and services available nationwide.
Prashant JoshiHead – Consumer Banking Group, DBS Bank India, said, “The launch of our first credit card is an important milestone for DBS Bank in India. We’ve 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 payment journey and transparency in billing so customers can live more and cash out less..
The credit card space is experiencing robust growth. We are confident that the SuperCard developed in partnership with Bajaj Finance will help eliminate the need for multiple cards, expand access to credit and provide attractive rewards and benefits to our customers, through the BFL franchise network. Our vision is to leverage the strengths of both organizations and deliver an end product that guarantees rich rewards and a top-notch customer experience.“
Anup SahaDeputy CEO, Bajaj Finance Limited said“We are constantly striving to transform the way financial services are delivered while keeping our customers at the heart of our concerns. 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 allows the customer to enjoy the SuperCard seamlessly across all our digital properties and start using it instantly!
The Bajaj Finserv DBS Bank SuperCard, as the name suggests, not only offers various industry-first benefits in the lifestyle, travel and subscription categories, but also offers benefits exclusive to the Bajaj Finserv EMI network. , such as cash back on ‘no EMI fee’ loan installments. & exchange cash points for the same. It also incorporates the benefits of Bajaj Finserv Health. Putting it all together, this card is a clear contender to become the most favorite card in the wallets of our customers.”
Sandeep GhoshGroup Country Manager, India and South AsiaVisa said: “As more and more consumers turn to credit cards for their everyday and discretionary needs, they are actively seeking easier access to credit as well as organized benefits and privileges. SuperCard Bajaj Finserv DBS Bank was designed to offer the best of both worlds.We are delighted to partner with DBS Bank on the launch of its 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 listed below:
- The SuperCard will be available in six variations, offering a welcome bonus of up to 20,000 Cash Points. It also multiplies customers’ cash points up to 10 times each month to reach monthly milestone spending. Customers can also enjoy up to 20x accelerated payment points on spend through the DBS Card+ mobile app and the Bajaj Finserv app.
- Customers can apply for the card from the comfort of their own home through all of Bajaj Finance Limited’s digital channels and get their paperless KYC on the same day, allowing them to start using their card instantly.
- The SuperCard also entitles customers to receive up to 5% cash back (up to INR 500 per transaction) on down payment of consumer sustainable loans at Bajaj Finance EMI network stores.
- The SuperCard allows customers to subscribe to various subscriptions such as Disney Hotstar, Zomato Pro via the DBS Card+ mobile application and get up to 40% cash back in the form of Cash points.
- Other benefits of the card include a special health plan on Bajaj Finserv Health which offers discounted teleconsultations with doctors across Indiaairport lounge access, interest-free cash withdrawal for up to 50 days, fuel surcharge waiver and easy expense conversion to EMI from INR 2,500
- Customers would have access to DBS Delightsan exclusive platform where they can redeem Cash Points and take advantage of offers selected from the biggest brands in shopping, dining, travel and health
Through this partnership, DBS Bank India & Bajaj Finance aim to create an end-to-end digital customer experience and proposition while catering to a wide franchise of customers across the geographic spread of Bajaj Finance Limited.
DBS Bank successfully launched its first ever credit card in partnership with Bajaj Finance Limited (BFL) in the esteemed presence of Piyush Gupta (CEO DBS Group), Surojit Shome (CEO of DBS India) and management of Bajaj Finserv Rajeev Jain (CEO of BFL) and Anup Saha (Deputy BFL CEO), Visa management 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, serving over 50 million customers across the country. Based at Pune, the Company’s product offerings include Sustainable Consumer Loans, Lifestyle Financing, Digital Product Financing, Personal Loans, Loans Against Property, Small Business Loans, Wallet, Cards co-branded credit, two- and three-wheeler loans, commercial loans/SME loans, securities lending and rural finance which includes gold loans and vehicle refinance loans as well as term deposits. Bajaj Finance Limited has the highest national credit rating of AAA/Stable for long-term borrowings, A1+ for short-term borrowings and FAAA/Stable & MAAA (Stable) for its FD program. It has a long-term issuer credit rating of BB+/Positive and a short-term issuer rating of B by S&P Global Ratings.
To learn more, visit https://www.bajajfinserv.in
DBS is a leading financial services group in Asia with 18 markets. Recognized for its global leadership, DBS has been named “The best bank in the world” by Euromoney, “Global Banks of the Year“by The Banker and”best bank in the worldby Global Finance. The bank is at the forefront of using digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the “The most innovative in digital banking” by The Banker. Additionally, DBS was granted the “safest bank in Asiaawarded by Global Finance for 13 consecutive years from 2009 to 2021. DBS was also ranked #1 on the Forbes list of the world’s best banks in India for two consecutive years.
DBS Bank is present in India for 28 years, opening its first office in Bombay in 1994. DBS Bank India Limited is the first of the major foreign banks India to begin operating as a wholly owned, locally incorporated subsidiary of a leading global bank. DBS provides a full range of banking services to large, medium and small businesses and individuals in India. In 2016, DBS launched india first exclusively mobile bank, digibank, with ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank merged with DBS Bank India Limited. The bank now has a network of almost 600 branches in 19 Indian states.
DBS offers a full range of retail, SME and corporate banking services. As a bank born and raised in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with its customers and positively impacting communities by supporting social enterprises as it bets on the Asian way. He also established a SGD 50 million foundation to strengthen its social responsibility efforts Singapore and Asia. In 2020, DBS launched the “Towards Zero Food Waste” initiative as part of a global sustainability practice to encourage behavior and mindset change to reduce food waste.
Thanks to its vast network of operations in Asia and its focus on engaging and empowering its people, DBS presents exciting career opportunities. The bank recognizes the passion, commitment and dynamic spirit of our more than 30,000 employees representing more than 40 nationalities. For more information, please visitwww.dbs.com.
SOURCE DBS Bank India