RuPay debit card: State Bank of India, Indian Oil Corporation launch co-branded RuPay debit card

MUMBAI: State Bank of India (SBI) and Indian Oil Corporation (IOC) on Thursday launched a co-branded contactless RuPay debit card. A buyer, anyplace within the nation, can get the cardboard by visiting the SBI’s residence department, the financial institution mentioned in a launch.

It is a contactless card and transactions as much as Rs 5,000 might be paid for with only a faucet.

“We believe this co-branded card, with ‘tap and pay’ technology, several attractive benefits and associated offers, would…provide a rewarding experience on purchase of fuel to the cardholders,” the financial institution’s Chairman Dinesh Kumar Khara mentioned within the launch.

The card can even simplify the on a regular basis purchases of shoppers with safe and handy contactless funds, he added.

Using it, cardholders can avail gasoline advantages and loyalty factors price 0.75 per cent in opposition to buy of gasoline in any respect stores Indian Oil gasoline stations. There is not any month-to-month restrict for buying the gasoline.

Customers may earn reward factors for spends on eating, motion pictures, grocery and utility payments. The reward factors can equally be redeemed for eating, motion pictures, grocery and utility payments, the financial institution mentioned.