PNB launches co-branded credit card with Patanjali in partnership with RuPay

The Punjab National Bank (PNB) and Patanjali Ayurved Limited (PAL) have launched co-branded credit cards in partnership with the National Payments Corporation of India (NPCI).

Co-branded credit cards are offered on NCPI’s RuPay platform and are available in two variants – PNB RuPay Platinum and PNB RuPay Select.

The two co-branded cards offer hassle-free credit service for purchasing Patanjali products on a daily basis, as well as cash back, loyalty points, insurance coverage and more, according to an official statement.

He added: “For three months from the launch of the card, cardholders can enjoy appropriate cash back @ 2% for transactions beyond 2500, subject to a cap of 50 per transaction at Patanjali stores.”

PNB RuPay Platinum and PNB RuPay Select cardholders will receive a welcome bonus of 300 reward points upon activation.

In addition, customers will enjoy complimentary access to domestic and international airport lounges, PNB Genie mobile application for card management, additional card system, lucrative reward points on spending, as well as cash advances/revolving, EMI and automatic debit.

Platinum and Select cards come with attractive insurance coverage of 2,000,000 and 10 lakh respectively for accidental death and personal total disability. Platinum Card offers a credit limit of 25,000 to 5 lakh and Select card 50,000 to 10,000,000.

The Platinum version comes with zero membership fees and an annual fee of 500, while the Select version offers a low membership fee of 500 and an annual fee of 750. The annual fee will be waived if the card is used at least once per quarter of the previous year.

Acharya Balkrishna, Managing Director of Patanjali Ayurved Limited, said, “The synergies of this partnership will help accelerate the adoption of digital payments, especially among users in the deeper Tier 2 and Tier 3 markets. , the most important is the interest-free purchase of Patanjali products for 20-50 days.”

Yoga guru Ramdev said, “With an ever-changing lifestyle, people are more inclined to buy products online. At such times, this alliance with PNB and RuPay will provide the right opportunity to promote the use of credit cards among new users. enable a seamless and safe shopping experience for customers as a whole when purchasing Patanjali products.”

Atul Kumar Goel, MD and CEO of PNB, said, “We are extremely pleased to announce the launch of the PNB Patanjali co-branded credit card on the Rupay platform. The collaboration should extend the benefits optimized for customers and the general public. are personalized and personalized for the affluent and mass segments. The benefits of a co-branding deal enriched with lucrative value propositions is one of the best aesthetically designed variants in the industry. We look forward to having a pleasant experience for our customers with this collaboration on board.

Praveena Rai, COO of NPCI, said, “We are delighted to partner with Punjab National Bank and Patanjali Ayurved for the launch of RuPay co-branded contactless credit cards. We believe these cards will provide a unique and memorable shopping experience to millions of PNB. and Patanjali’s customers as it caters to their healthy lifestyle needs. Being a modern, contemporary, youthful and differentiated brand, Rupay strives to create innovative offerings for seamless payment solutions for our customers as a way of life. At NPCI, we are constantly working to make digital payments easier and more secure for customers with RuPay. We are confident that this strategic collaboration will give further impetus to RuPay’s growth path in the credit card segment.

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