SBI Card has joined hands with lifestyle retail chain Fabindia by launching contactless co-branded credit cards to cater to the premium segment customers.
The new co-branded contactless credit card combines the best in class rewards points on retail spends with the value back on varied spending categories, thus addressing overall spending needs of premium cardholders, SBI Card said in a release on Thursday.
Fabindia SBI Card comes in two variants -- Fabindia SBI Card Select and Fabindia SBI Card.
"Introduction of the new Fabindia SBI Card further bolsters our premium portfolio, reinforces our commitment to enable our customers to embrace digital payments and contribute to the country's digital economy, " Rama Mohan Rao Amara, Managing Director & Chief Executive Officer, SBI Cards and Payment Services (SBI Card) said.
Fabindia SBI Card customers will get direct entry to FabFamily loyalty programmes meant for higher tiers Gold and Platinum customers. Otherwise, customers get entry into FabFamily on the minimum annual spending of Rs 30,000 and Rs 75,000, respectively.
Fabindia SBI Card Select offers 10 percent value back to customers buying in-stores at Fabindia along with complimentary domestic airport lounge access. The card also offers milestone benefits worth Rs 1,250 on quarterly spending of Rs 2,00,000, in the form of gift vouchers, among others.
The solutions and incentives that Fabindia and SBI Card together bring for customers are designed to contribute significant value and result in customer delight, Viney Singh, Managing Director, Fabindia said.