Indian credit card issuer SBI Card has joined forces with seven of India’s e-commerce players to launch the new SimplyCLICK SBI Card.
The e-commerce partners in the venture include Amazon India, BookMyShow, Cleartrip, FabFurnish, Food Panda, LensKart and Ola Cabs.
Touted as the country’s first ever credit card to focus on online shopping across diverse categories, the new card will provide accelerated reward points to the tune of 5X on all online spends made by customers.
In addition, the product will deliver reward points to the tune of 10X to cardholders on purchases made on partner sites.
SimplyCLICK customers will be able to earn vouchers worth up to INR4,000 ($60.16) by spending INR200,000 ($3,007.75) per year through the online medium.
The card will charge a fee of INR499 ($7.50), and the cardholders will receive reversal of the renewal fee on crossing annual spends of INR100,000 ($1,503.85).
It will also reward customers with an Amazon e-gift welcome voucher of INR500 ($7.52), as well as offer fuel surcharge waiver of 2.5% across all petrol pumps in the country.
The new card can be used at all merchant outlets within the country and across the globe.