BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB), and Indian Railway Catering and Tourism Corporation Ltd (IRCTC) have collaborated to develop the IRCTC BoB RuPay contactless credit card which is particularly designed for provide regular passenger trains with incredible benefits. Holders of the IRCTC BoB RuPay contactless credit card will receive numerous rewards when shopping in other categories ranging from groceries to fuel. Cardholders can also use this card to make purchases from overseas merchants and ATMs that are part of the Japan Credit Bureau (JCB) network.
BFSL said in an official statement that “holders of the IRCTC BoB RuPay contactless credit card will be able to earn up to 40 reward points (per INR 100 spent) on 1AC, 2AC, 3AC, CC or EC bookings made through the IRCTC website or mobile app. The card also offers a 1% transaction fee waiver for customers on all their train ticket bookings. Customers making a one-time purchase worth INR 1,000 or more within 45 days of card issuance will receive 1,000 bonus reward points.”
This co-branded credit card will provide 4 reward points on every INR 100 spent in supermarkets and department stores and 2 reward points on all other purchases. Cardholders will be entitled to four free visits to partner rail lounges per year. The card will also provide a 1% fuel surcharge waiver at all fuel pumps in India. By associating their Loyalty Number (printed on the co-branded credit card) with their IRCTC Login ID, cardholders will be able to redeem their reward points collected on the IRCTC website and mobile app.
Ms. Rajni Hasija, CMD of IRCTC said at the event, “IRCTC is extremely pleased and honored to partner with BOB Financial, a wholly owned subsidiary of Bank of Baroda – the third largest bank in the India to introduce the new co-branded contactless credit card on the RuPay platform in collaboration with NPCI.IRCTC has rich experience in offering such co-branded cards to its customers and has partnered with another public sector bank to offer its loyalty program to its customers.The recent collaboration with BOB Financier in the launch of the contactless credit card IRCTC BoB RuPay is another historic step towards the promotion of the indigenous payment platform RuPay and the realization of the vision of digital India of the Honorable Prime Minister of India. IRCTC is pleased to play an instrumental role in realizing this vision and we look forward to the resounding success of this map with and our customers. The value proposition of this card has great potential as well as an opportunity to be used among IRCTC’s vast customer base through its e-ticketing website www.irctc.co.in and mobile app ‘IRCTC Rail Connect ‘.
Mr. Shailendra Singh, MD and CEO of BFSL said of the inauguration that “We are honored to partner with IRCTC for the co-branded credit card, in partnership with NPCI. The card will provide uninterrupted payment convenience and benefits to customers for rail travel as well as all other shopping needs.We also expect the co-branded card to act as a catalyst for further adoption of digital payments in deeper geographies, aided by the presence of both the rail network and the BoB branches.
Ms. Praveena Rai, COO of NPCI, said at the unveiling, “We are delighted with the launch of RuPay’s contactless credit card by BOB Financial in partnership with IRCTC. This card will allow customers to save on their train journey and earn rewards points on their spending. in other categories. With RuPay, we aim to deliver personalized value propositions backed by cutting-edge technology to deliver a rewarding experience to millions of customers. We believe that this launch is a step towards making RuPay the preferred credit card for India. “
For investment-related articles, business news and mutual fund tips
Article first published: Wednesday, February 23, 2022, 9:11 a.m. [IST]