IndusInd Bank has launched a corporate credit card on the RuPay network.
The press release from the specified financial institution notes that the new eSvarna corporate credit card will integrate the functionality of the Unified Payment Interface (UPI).
Soumitra Sen, head of consumer banking and marketing at IndusInd Bank, said that the product launched at the current week is based on the lender’s deep understanding of the specifics of the segment for which it is intended. He also noted that the new corporate credit card is a functional solution aimed at Indian professionals and businessmen who travel a lot and need certain operating offers appropriate to their lifestyle. According to him, this banking product provides unsurpassed experiences and benefits in various categories, including, for example, wellness and journeys.
The press release of the financial institution also notes that the eSvarna corporate credit card simplifies the process of making transactions. The bank also notes that this product allows consumers to make UPI payment financial operations. Separately, attention is drawn to the fact that the corporate credit card is linked to apps with support for the specified interface.
Also, for consumers, the use of eSvarna provides many benefits and rewards, including complimentary lounge access and fuel recharge waiver, comprehensive travel insurance coverage, and a special program designed for corporate entities. The relevant information is contained in the press release of the financial institution.
Moreover, eSvarna is in line with the National Payment Corporation of India (NPCI), the creator of RuPay and UPI, to form a digitally inclusive society. This was stated by the Chief Operating Officer of NPCI, Praveena Rai. She also said that eSvarna is the first RuPay corporate card in India. According to her, this product in sphere banking is a significant step for corporate clients in gaining access to unique offers, benefits, and smooth transactions with UPI support.
Praveena Rai also noted that payment instruments like eSvarna increase the overall level of service quality for large corporations and their employees, which provides an unsurpassed user experience, characterized by simplicity and efficiency.
In October, the media reported that SBI Cards and Reliance Retail are launching a credit card in RuPay. This co-branded card marks the emergence of Reliance in the credit card market.
Currently, there is a rapid increase in credit card expenses in India. In September, the number of these payment instruments in the RuPay network increased by almost 20% year-on-year.
In October, the French payment company Worldline began cooperating with the international NPCI unit. This partnership will expand the acceptance of UPI and RuPay throughout Europe.
IndusInd Bank started its activity in 1994. This financial institution is engaged in servicing private and corporate clients. As of September 30 of this year, the number of consumers of the bank’s services was about 37 million people. Currently, the functional network of a financial institution in India includes 2,631 branches and 2,903 ATMs.
As we have reported earlier, First UAE Fintech to Launch India UPI Payment Integration.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
