India’s Federal Bank has partnered with the National Payments Corporation of India (NPCI) to launch the Federal Bank RuPay Signet Contactless Credit Card, which comes with an annual interest rate starting from 5.88 per cent.
Federal Bank RuPay Signet credit cardholders will gain access to offers and deals across categories including travel, food and dining, shopping, sports, entertainment and lifestyle. The offers include Amazon gift vouchers as welcome benefits, reward points, buy one get one free offers at INOX, complimentary membership programs, Swiggy vouchers, and free lounge access at domestic and international airports. The card is presently offered to existing bank customers.
The card is immediately made available for use in FedMobile, the bank’s mobile banking application, through a three-click process. The physical card will be delivered to the customer in due course. Specially designed for millennial customers, this card offers a personalized 3-2-1 rewards structure. They would earn three-times rewards on spends for electronics and apparel, double the points on entertainment, and normal rewards for other categories.
“We are excited to launch with our partner bank – the Federal Bank RuPay Signet Contactless Credit Card,” NPCI COO Praveena Rai said. “This card has a significant potential to attract new-age customers as it has a complete package of benefits suiting their lifestyle backed up with an innovative cashback scheme. At NPCI, for RuPay, we continue to work towards offering a delightful and contactless shopping experience to all our customers. We also believe our association with Federal Bank will provide a wider penetration of RuPay contactless cards in the country.”
“Federal Bank has, yet again, ensured that the mantra of ‘digital at the fore, human at the core’ comes to life via this latest offering, the RuPay credit card,” Federal Bank executive director and business head for Retail Shalini Warrier said. This card is also a symbol of our strong partnership with NPCI, an entity known for innovation in the retail payments space.”