SBI Cards and Payment Services Ltd shares gained on Thursday, March 21, after the company launched a new co-branded card in partnership with Titan Company, called the Titan SBI Card.
The country’s largest pure-play credit card firm announced that it has partnered with Titan Company Limited to launch the Titan SBI Card, which is a one-of-its-kind shopping credit card specially designed to address the aspirational spending needs of customers, the company said in a stock exchange filing.
The Titan SBI Card offers multiple benefits like cashbacks on spends across a variety of lifestyle categories and reward points. The card also offers gift vouchers of Titan, which can be availed by cardholders to enjoy exclusive benefits worth more than ₹2 lakh every year. The Titan SBI Card offers thoughtfully curated benefits on high value spend categories, including watches, jewellery and eyewear.
Among its key benefits are the cashback up to 7.5% on purchases from Titan, Taneira, Titan EyePlus and non-jewellery brands of the company. The card also comes with a 5% cashback on Mia, Caratlane and Zoya across their offline as well as online stores.
Additionally, the users of Titan SBI Card will be able to avail Titan gift vouchers worth 3% of the value of spends on shopping from Tanishq.
“There is a growing propensity of Indian consumers towards aspirational lifestyle and products. We are delighted to introduce Titan SBI Card, a specialised credit card that caters to the lifestyle spending needs of our customers,” said the MD and CEO of SBI Card, Abhijit Chakravorty in a press release dated March 21.
Shares of SBI Cards and Payment Services were trading 1.21% higher at ₹700.85 apiece on BSE at 2:25 pm.
First Published: Mar 21, 2024 2:55 PM IST
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