BOB Financial And Nainital Bank Launch “Co-Branded Contactless RuPay Credit Card”

BOB Financial Solutions Limited (BFSL), a wholly-owned subsidiary of Bank of Baroda and Nainital Bank – established by Bharat Ratna Pt. Govind Ballabh Pant in 1922 (and managed by Bank of Baroda since 1973), announced the launch of Nainital Bank - BoB co-branded Contactless RuPay Credit Card. The card, being launched in the centenary year of Nainital Bank, is designed to reward customers for everyday spend categories like grocery and departmental stores. 

Cardholders of Nainital Bank - BoB RuPay Contactless Credit Card will be able to earn 5X i.e. 5 reward points (per Rs. 100 spent) for spends on grocery, departmental stores and movies. For all other spends, cardholders will earn 1 reward point per Rs. 100 spent. In addition, cardholders will also benefit from 1% Fuel Surcharge Waiver on fuel purchases. 

The co-branded credit card also offers complimenatry Personal Accidental Death insurance. The card is offered at zero joining feeand a nominal annual fee that is waived on spends of Rs. 25,000 per year. To ensure quick and simple acquisition of the co-branded card, customers can apply using a 100% digital process. 

Speaking at the launch, Mr. Dinesh Pant, MD & CEO, Nainital Bank said, “The all important launching of the co-branded credit card is the beginning of a new dawn in the history of Nainital Bank as this would bring a host of attractive features for customers which include zero joining fees, reward points while using it in Grocery Shops, Departmental Stores, while watching movies and surcharge waiver on fuel purchases for owned vehicles. The benefit of personal accidental death Insurance would be an added advantage. I am confident that this co-branded credit card will attract customers of Nainital Bank.” 

Speaking on the occasion, Mr. Shailendra Singh, MD & CEO, BFSL said, “We are very happy to launch the co-branded credit card with Nainital Bank. This is our first co-branded partnership within the Bank of Baroda family. It has been our endeavour to take the benefits of credit cards to customers of Bank of Baroda and other group companies. After running focused acquisition programs with other subsidiaries and integrating with TABIT, the digital onboarding platform of Bank of Baroda, the co-branded credit card with Nainital Bank is a significant step forward in leveraging internal resources and building synergy within the larger Bank of Baroda family.” 

Commenting on the development, Mr. Rajeeth Pillai, Chief Relationship Management and Marketing, , NPCI said,“We are delighted to partner with BOB Financial and Nainital Bank on the launch of this co-branded contactless RuPay credit card and extend our partnership within the Bank of Baroda family. These cards are designed to provide a seamless and rewarding shopping experience to the customers through attractive benefits on everyday spending categories. With RuPay, we aim to offer customised value propositions backed by our cutting-edge technology to our customers and strengthen RuPay's customer base across the country.” 

About BOB Financial Solutions Limited: 

BOB Financial Solutions Limited was established in the year 1994. It is a Non-Banking Financial Company, wholly owned by Bank of Baroda. The Company’s primary business is in credit cards with its key differentiator being simple, easy-to-understand products that are fairly priced and efficiently serviced. A pioneer in the space of credit cards, BOB Financial offers an array of products catering to all segments of customers. It is leveraging state-of-the-art technology to provide unique payment solutions to its customers.