SBI Cards and Payment Services Limited (SBI Card) and Flipkart, India's homegrown e-commerce marketplace, have joined forces to introduce the 'Flipkart SBI Credit Card'. This strategic partnership aims to enhance the shopping experience for customers across the Flipkart ecosystem, which includes Flipkart, Myntra, Shopsy, and Cleartrip.

Key Features of the Flipkart SBI Credit Card

The new co-branded credit card offers a range of benefits designed to provide value to online shoppers:

• 7.5% cashback on all Myntra purchases
• 5% cashback on Flipkart, Shopsy, and Cleartrip transactions
• 4% cashback on select brands including Zomato, Uber, Netmeds, and PVR
• 1% unlimited cashback on all other eligible spends

Cashback and Fee Structure

Seamless Application Process

Customers can apply for the Flipkart SBI Credit Card through the Flipkart App or the SBI Card website. The card is available on both Mastercard and VISA payment platforms.

Executive Statements

Salila Pande, Managing Director & Chief Executive Officer of SBI Card, emphasized the company's commitment to delivering products that align with evolving customer needs, particularly in the rapidly growing e-commerce sector.

Kalyan Krishnamurthy, Chief Executive Officer of the Flipkart Group, highlighted the partnership's role in democratizing access to formal credit in India and empowering millions of households across the country.

Launch Offer

To celebrate the launch, Flipkart and SBI Card are running a limited-period offer where applicants can win Samsung Galaxy Smartwatches and Ambrane wireless power banks upon successful completion of the card application process on the Flipkart app.

This strategic alliance between SBI Card and Flipkart represents a significant move in the e-commerce and financial services sectors, potentially reshaping the landscape of online shopping and credit card usage in India. The partnership leverages SBI Card's financial expertise and Flipkart's extensive e-commerce platform to offer a product that caters to the growing demand for seamless, rewarding shopping experiences in the digital age.

SBI Cards , one of India's leading credit card issuers, has announced a significant overhaul of its Card Protection Plan, set to take effect from September 16. The revamp introduces more affordable pricing and enhanced benefits, aiming to provide better value to its customers.

New Plan Structure

The revised structure introduces three distinct variants:

1. Classic
2. Premium
3. Platinum

Each variant comes with its own set of benefits and a notably reduced price point.

Pricing Revisions

SBI Card has implemented substantial price reductions across all plan variants:

Key Benefits

The revised Card Protection Plan offers a range of benefits:

1. One-Call Card Blocking: Quick and easy card deactivation in case of loss or theft.
2. SIM Card Blocking: Added protection for mobile-linked services.
3. Emergency Travel Assistance: Advances ranging from ₹80,000 to ₹1.6 lakh, depending on the plan.
4. Fraud Protection: Coverage up to ₹1 lakh for PIN-based frauds and phishing attempts.
5. Mobile Wallet Protection: Coverage ranging from ₹10,000 to ₹50,000.

Family Coverage

The extent of family coverage varies by plan:

• Classic: Covers only the primary member
• Premium: Extends to the member and spouse
• Platinum: Includes the member, spouse, and parents

Transition Process

SBI Card will migrate all active customers to the new plan variants on their respective renewal dates. Customers can expect to receive prior communication via SMS or email at least 24 hours before their plan renewal.

This strategic move by SBI Card aims to offer more value to its customers while potentially increasing adoption of the Card Protection Plan due to the more attractive pricing. The enhanced benefits, particularly in fraud protection and family coverage, reflect the company's commitment to addressing evolving customer needs in the digital payment landscape.