The Punjab National Bank (PNB) and Patanjali Ayurved Limited (PAL) have launched co-branded contactless 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.
Starting the new year on a high note, both co-branded cards offer a host of attractive benefits and spend-based waivers for customers. They offer a hassle-free credit service to purchase Patanjali products on a daily basis, as well as cashback, loyalty points, insurance coverage, and more. Cardholders are eligible for appropriate cash back @ 2% for transactions above 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 benefit from free access to domestic and international airport lounges, the PNB Genie mobile application for card management and an additional card system. lucrative reward points on spending, as well as advance/revolving, EMI and auto-debit facilities.
Platinum and Select cards come with an attractive insurance cover of 2 lakhs and 10 lakhs respectively for accidental death and personal total disability. Platinum Card offers credit limit from 25,000 to 5 lakhs and Select Card from 50,000 to 10 lakhs.
The Platinum version comes with a zero membership fee and a $500 annual fee, while the Select version offers a low membership fee of $500 and a $750 annual fee. 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 Swami Ramdev also 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. will enable a seamless and safe shopping experience for customers as a whole when purchasing Patanjali products. »
Praveena Rai, COO, 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 that these cards will provide a unique and memorable shopping experience to millions of PNB and Patanjali Customers as it meets 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. »
Atul Kumar Goel, MD and CEO of PNB (wef 01.02.2022), said “It gives us immense pleasure to announce the launch of the PNB Patanjali branded credit card on the RuPay platform. The collaboration is expected extend benefits optimized for customers and the Public