SBI Cards, PhonePe Launch Co-Branded Credit Cards On RuPay, VISA Networks

SBI Cards and Payment Services Ltd. and PhonePe Ltd. have jointly launched co-branded credit cards under the PhonePe SBI Card banner, the credit card issuer said in a press release on Tuesday.

The cards come in two variants — PhonePe SBI Card PURPLE and PhonePe SBI Card SELECT BLACK — and are available on both RuPay and VISA networks. While the RuPay variant can be linked to UPI, the VISA card supports tokenisation for secure transactions on the PhonePe platform.

Eligible customers can apply for the contactless cards digitally via the PhonePe app. The cards offer milestone and travel benefits, and users can redeem reward points to pay outstanding bills or for e-gift vouchers from SBI Card’s catalogue.

SBI Cards MD & CEO Salila Pande said the partnership aims to drive broader credit card adoption by leveraging SBI Card’s domain expertise and PhonePe’s wide digital reach. The rollout will happen in phases.