Thursday, January 21, 2021

SBI Card bolsters premium portfolio; inks partnership with American Express

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SBI Card, India’s largest pure play credit card issuer, and American Express, the globally integrated payments company, have entered a strategic partnership to offer a powerful mix of global benefits and exclusive privileges for discerning consumers in India. With this partnership, SBI Card`s top end premium products – SBI Card ELITE and SBI Card PRIME will be available on American Express’ global network. Designed for the premium segment of credit card users in India, SBI Card ELITE and SBI Card PRIME on the American Express platform combine unmatched benefits from both partners to offer consumers an enhanced premium experience.

In addition to the exclusive value proposition of  SBI Card ELITE and SBI Card PRIME, cardholders can enjoy American Express’ valuable network benefits through local and global network offers, access to Elite tier membership,  complimentary domestic lounge program, access to VIP upgrades and privileges at hotels, restaurants and retail outlets around the world and unique experiences like pre-ticketing access to sporting and entertainment events such as Wimbledon and US Open– now accessible virtually!

SBI Card ELITE and SBI Card PRIME bring cardholders the best lifestyle privileges such as complimentary membership to loyalty programs of marquee brands like Vistara and Trident Hotels with exclusive benefits for SBI Cardholders; complimentary international airport lounge access through the Priority Pass Program; and welcome gift vouchers from leading retail brands. These privileges are accompanied by value through accelerated reward points on spend categories such as dining, entertainment and departmental store as well as spends based milestone benefits.

Speaking about the partnership, Mr. Ashwini Kumar Tewari, MD & CEO, SBI Card said, “SBI Card has always endeavored to bring best-in-class products and services to offer maximum value and an unmatched experience carefully curated to address the evolving needs of customers. Strategic partnerships which enable us to offer differentiated value proposition to our consumers are part of our core business approach. Our partnership with American Express will enable us to bring a powerful and unique value proposition to our aspiring affluent and premium consumer segment. This alliance is another step in our efforts to bolster our premium portfolio, making our diverse portfolio of mass to premium more comprehensive and robust.”

Mr. Pierric Beckert, President, American Express Global Network Services, shared “Around the world, American Express partners with banks that share our commitment to superior customer service and providing quality products to customers. Our issuing partnership with SBI Card will enhance the service and value proposition for Indian consumers and significantly expand our footprint in the country. Together, we will create appealing and differentiated products to meet the needs of a wide set of Indian consumers.”

India is a strategically important market for American Express, with all lines of businesses tapping into the digital payment acceleration in the country. Global Network Services works with local issuing banks to offer a wide range of products with best in class value propositions. These products are supported by a rich suite of offers as well as global benefits backed by rich rewards programs. The cards on the American Express network are contactless enabled and protected by Safe key for online transactions.

With this launch, SBI Card will have products across four networks, thereby catering to the entire spectrum of users from mass to premium.

SBI Card ELITE and SBI Card PRIME on American Express platform will come at a joining fee of INR 4999 and INR 2999 respectively. Currently, the cards have been launched in Delhi NCR and Mumbai and will gradually be extended to other cities in the American Express network.

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