SBI Cards and Payment Services Limited, formerly known as SBI cards, is a payment solutions provider in India. SBI Card was launched in October 1998 by the State Bank of India. On May 15, 1998, SBI Cards and Payment Services, Limited was started as a private limited company with SBI Cards and Payment Services Private Limited. SBI Cards and Payment Services Limited added new types of cards & got several accolades and recognitions for its performance, quality and service.
The name was changed to 'SBI Cards and Payment Services Limited' on converting the Company to a public limited company according to a special resolution passed by the shareholders on August 2, 2019. It was registered as a non-public deposit-taking Non-Banking Finance Company according to a certificate of registration issued by the Reserve Bank of India. SBI Cards and Payment Services Limited added new types of cards & got several accolades and recognitions for its performance, quality and service.
SBI Cards is the 2nd largest credit card issuer in India, with a 17.6% & 18.1% market share of the Indian credit card market. The main objective of the SBI Card is to provide Indian customers access to an extensive array of world-class, value-added payment products as well as services. The state-of-the-art products & services of the SBI Card, along with its responsible corporate citizenship practices, build the foundation of delivering on this promise.
It has a comprehensive product portfolio that comprises classic, premium, travel, and shopping, exclusive and corporate cards to serve individuals and corporate requirements. Its dedicated & customer-oriented approach has received several industry awards & recognitions for customer service, product innovation, branding, & marketing.MERGERS AND ACQUISITIONS
State Bank of India & The Carlyle Group attained GE Capital`s stake in SBI Card in December 2017, post which SBI held 74% & Carlyle held 26% in the Company.SERVICES
SBI Cards and Payment Services Limited have different cards for different requirements that best suitable to customers, such as:
Travel & Fuel Cards
Banking Partnership Cards
Got Most Trusted Brand Gold Award
Ranked 2nd in CNBC Consumer Awards 2 years in a row
Winner of Best Mature Captive Delivery Unit in Asia
Ranked 2nd in Business World Survey on Customer Satisfaction
Received ‘Most Innovative Technology Legacy Transformation’ award
In 1998: SBI Card entered the credit card space.
In 2003: It has set up eight Cities Affinity Cards with special tie-ups & offers.
In 2006: It set up SBI Railway Cards for Indian Railway travellers. It has set up co-brand cards, SBI Spicejet Card, and TATA Cards, India’s first loyalty cum credit card.
In 2010: It has launched SBI Platinum Card launched.
In 2011: It has launched chip-based EMV Cards.
In 2012: It has launched SBI Signature Card for HNIs.
In 2013, it launched the Air India SBI Signature Card and the Air India SBI Platinum Card.
In 2014: It has launched the fbb SBI STYLEUP Card.
In 2015: It has launched SimplySAVE and SimplyCLICK SBI Card.
In 2016: It has launched SBI Card ELITE.
In 2018: It has launched the Doctor’s SBI Card & Apollo SBI Card.
In 2019: It has launched SME Business Card, OLA Money SBI Credit Card, Etihad Guest SBI Card, and Allahabad Bank SBI Card.
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