BFSL, IRCTC join RuPay to launch contactless credit card

Mumbai: BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB) and Indian Railway Catering and Tourism Corporation Ltd (IRCTC) have come together to launch the IRCTC BoB RuPay Contactless Credit Card. The card is specially curated to offer maximum savings to frequent railway travellers. Users of this card will also get multiple benefits for shopping across other categories ranging from groceries to fuel. Cardholders can also use this card to transact at international merchants and ATMs through the JCB network.

Talking to Bizz Buzz, Shailendra Singh, MD & CEO, BFSL says, "IRCTC Bank of Baroda co-brand credit card has a value proposition for Indian Railway passenger." The partnership with IRCTC is to create a curated credit card which offers bundle of benefits to the travellers by Indian Railway. The card gives an opportunity to monetise the benefits by redeeming their reward points and book tickets, he added.

The cardholders will be able to earn up to 40 reward points (per Rs100 spent) on 1AC, 2AC, 3AC, CC, or EC bookings made through the IRCTC website or mobile app. The card also offers a 1 per cent transaction fee waiver for the customers on all their train ticket bookings. Customers making a single purchase worth Rs 1,000 or more within 45 days of card issuance will get 1,000 bonus reward points.

The card will offer 4 reward points (per Rs 100 spent) on grocery and departmental stores and 2 reward points on other categories. The cardholders will be entitled to 4 complimentary visits per year at partner railway lounges. The card will also offer 1 per cent fuel surcharge waiver across all petrol pumps in India. The cardholders will be able to redeem the accrued reward points on the IRCTC website and mobile app, after linking their Loyalty Number (printed on the co-branded credit card) with their IRCTC login ID.

Rajni Hasija, CMD, IRCTC said, "IRCTC is extremely pleased and honored to partner with BOB Financial, in presenting the new co-branded card on RuPay platform in collaboration with NPCI. The recent collaboration with BOB Financial in launching the contactless credit card is another landmark step towards promotion of the indigenous RuPay payment platform and realising Digital India vision of Prime Minister Narendra Modi.

Praveena Rai, COO, NPCI said, "We are delighted for RuPay's contactless credit card launch. This card will enable customers to save on their railway journey and to earn reward points on spending in other categories."