New Delhi: SBI Card, India’s leading credit card issuer on Tuesday announced that it has entered into a strategic partnership with global integrated payments company American Express to offer a powerful mix of global benefits and exclusive privileges for discerning consumers in India.
The Shares of SBI Card and Payment Services (SBICard) was trading at Rs.843.25, up 0.53% on the BSE at 1 pm. State Bank of India, India’s largest lender holds 74% stake in SBI Card while the Carlyle group holds rest 26%.
With this partnership, SBI Card`s top end premium products – SBI Card ELITE and SBI Card PRIME will be available on American Express’ global network. Designed for the premium segment of credit card users in India, SBI Card ELITE and SBI Card PRIME on the American Express platform combine unmatched benefits from both partners to offer consumers an enhanced premium experience.
In addition to the exclusive value proposition of SBI Card ELITE and SBI Card PRIME, cardholders can enjoy American Express’ valuable network benefits through local and global network offers, access to Elite tier membership, complimentary domestic lounge program, access to VIP upgrades and privileges at hotels, restaurants and retail outlets around the world and unique experiences like pre-ticketing access to sporting and entertainment events such as Wimbledon and US Open– now accessible virtually!
“SBI Card has always endeavoured to bring best-in-class products and services to offer maximum value and an unmatched experience carefully curated to address the evolving needs of customers. Strategic partnerships which enable us to offer a differentiated value proposition to our consumers are part of our core business approach. Our partnership with American Express will enable us to bring a powerful and unique value proposition to our aspiring affluent and premium consumer segment. This alliance is another step in our efforts to bolster our premium portfolio, making our diverse portfolio of mass to premium more comprehensive and robust” Mr. Ashwini Kumar Tewari, MD & CEO, SBI Card said.