SBI Card and Flipkart Launch Co-Branded Credit Card for Enhanced Customer Value
The launch of a co-branded credit card with Flipkart, a leading e-commerce marketplace, significantly expands SBI Card's market reach and customer acquisition potential. For Flipkart, it enhances customer loyalty and provides access to formal credit, driving transaction volumes for both. The scale of both companies involved suggests a high impact on their respective businesses and the broader digital payments ecosystem.
The announcement details a new co-branded credit card with attractive cashback benefits and welcome offers, resulting from a strategic alliance between two major entities. This indicates a positive development for both companies and potential customers.
SBI Cards and Payment Services Limited and Flipkart jointly announced the launch of the 'Flipkart SBI Credit Card' on August 26, 2025. This strategic alliance aims to enhance affordability and value for customers across Flipkart, Myntra, Shopsy, and Cleartrip.
Key features and benefits of the co-branded credit card include: * 7.5% cashback on Myntra spends, with a limit of ₹4,000 per calendar quarter. * 5% cashback on Flipkart, Shopsy, and Cleartrip spends, each with a limit of ₹4,000 per calendar quarter. * 4% cashback on select brands like Zomato, Uber, Netmeds, and PVR, with a limit of ₹4,000 per calendar quarter. * 1% unlimited cashback on all other eligible spends. * An auto-credit facility that deposits entitled cashback to the SBI Card account within two days of statement generation.
The card has a joining and annual renewal fee of ₹500 plus applicable taxes. Cardholders can avail welcome benefits worth ₹1,250, which include: * Flipkart e-gift card worth ₹250 on payment of the joining fee. * Flipkart e-gift card worth ₹500 on the first transaction on Flipkart within 30 days of card approval. * Cleartrip voucher worth ₹500 on the first transaction on Flipkart within 30 days of card approval.
Additionally, cardholders can enjoy a renewal fee reversal of ₹500 on achieving annual spends of ₹3,50,000. The card also offers a 1% fuel surcharge waiver (maximum ₹400 per statement cycle).
Salila Pande, Managing Director & Chief Executive Officer, SBI Card, stated that the launch aligns with delivering best-in-class products and providing a rewarding and seamless payment experience amidst the rapid growth of e-commerce. Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, emphasized the card's role in democratizing and expanding access to formal credit in India, empowering millions of households.
What to do with a filing like this
SBI Cards and Payment Services Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by SBI Cards and Payment Services Limited. Read the original for the full detail.