Latest News | SBI, IOC Launch Co-branded RuPay Debit Card

Mumbai, Jan 7 (PTI) State Bank of India (SBI) and Indian Oil Corporation (IOC) on Thursday launched a co-branded contactless RuPay debit card.

A customer, anywhere in the country, can get the card by visiting the SBI's home branch, the bank said in a release.

It is a contactless card and transactions up to Rs 5,000 can be paid for with just a tap.

"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 bank's Chairman Dinesh Kumar Khara said in the release.

The card will also simplify the everyday purchases of customers with secure and convenient contactless payments, he added.

Using it, cardholders can avail fuel benefits and loyalty points worth 0.75 per cent against purchase of fuel at all retail outlets Indian Oil fuel stations. There is no monthly limit for purchasing the fuel.

Customers can also earn reward points for spends on dining, movies, grocery and utility bills. The reward points can similarly be redeemed for dining, movies, grocery and utility bills, the bank said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)