SBI Cards and Payment Services , a leading credit card issuer in India, has joined forces with e-commerce giant Flipkart to introduce the Flipkart SBI Credit Card. This strategic partnership aims to offer cardholders a range of tiered cashback rewards across various spending categories, enhancing the value proposition for consumers in the digital payments landscape.

Key Features of the Flipkart SBI Credit Card

The newly launched credit card comes with an array of benefits designed to cater to diverse consumer needs:

• Tiered Cashback Structure:

  • 5% cashback on Flipkart and Cleartrip transactions
  • Up to 7.5% cashback on Myntra purchases
  • 4% cashback on popular platforms like Zomato, Uber, Netmeds, and PVR
  • 1% cashback on all other eligible transactions

• Welcome Reward: New cardholders receive a Rs 250 Flipkart gift card upon joining

• Annual Fee Reversal: The annual fee is waived for customers who spend above Rs 3.5 lakh in a year

• Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between Rs 500 and Rs 4,000, capped at Rs 400 per billing cycle

• Advanced Payment Features:

  • Contactless payment capability for convenient transactions
  • Global ATM access for cash withdrawals

Additional Benefits

The Flipkart SBI Credit Card also offers several supplementary features to enhance user experience:

• Family-Friendly: Option to add up to three family members with add-on cards

• Utility Bill Payments: Easy Bill Pay feature for hassle-free utility payments

• Flexible Repayment: Flexipay facility allows conversion of purchases above Rs 2,500 into EMIs within 30 days of transaction

This collaboration between SBI Cards and Flipkart represents a significant move in the competitive credit card market, offering a product that combines the strengths of a leading financial institution with a major e-commerce platform. The tiered cashback structure, particularly favoring Flipkart ecosystem purchases, aims to drive customer loyalty and increase transaction volumes across partnered platforms.

For consumers, the card presents an opportunity to maximize rewards on their online and offline spending, with a focus on e-commerce, food delivery, ride-hailing, and entertainment sectors. The annual fee reversal feature also incentivizes higher card usage, potentially leading to increased customer engagement and retention.

As the digital payments landscape in India continues to evolve, such co-branded offerings are likely to play a crucial role in shaping consumer behavior and driving the adoption of credit card usage across various spending categories.

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.