SBI Card and Reliance to launch a co-branded credit card

Thursday 2 November 2023 14:53 CET | News

India-based credit card issuer SBI Card has partnered with retail company Reliance to launch a co-branded credit card on India’s RuPay payment network.


The partnership marks Reliance's foray into the credit card space and comes months after the company’s officials separately listed their financial services business as it seeks to diversify their operations.

SBI Card has partnered with retail company Reliance to launch a co-branded credit card on India’s RuPay payment network.

Tapping into market opportunities

SBI Card could lure customers with access to rewards across Reliance Retail's 18,650 stores in India, at a time when credit card spending has boomed. The ongoing festive season, when customers make some of the most big-ticket purchases, is also expected to boost spending.

Data from the Reserve Bank of India showed credit cards in the network had surged nearly 20% year-on-year as of September 2023.

SBI Card, majorly owned by top lender State Bank of India, will launch two variants of the card with Reliance Retail, which owns brands, including Reliance Digital, JioMart, and Netmeds.

Previous partnerships on co-branded cards from SBI Card

In May 2023, India-based payments company Paytm has partnered with SBI Card to launch the Paytm SBI Card on the RuPay network.

The Paytm and SBI Card partnership, which began in 2020, has expanded with the addition of National Payments Corporation of India’s RuPay, as all three home-grown brands joined forces to further drive the growth of inclusive, digital-first financial services in the country.

In March 2023, JCB International, in association with National Payments Corporation of India, SBI Card, and Yatra have announced the launch of a co-branded credit card.

This credit card is set to offer consumers exclusive travel benefits on booking flights and hotels, which would be applicable 6 times a year. As a welcome onboard gift, users of this card were entitled to vouchers worth USD 108. They can use this voucher to book flight tickets, hotel reservations, and the likes from

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Keywords: credit card, partnership, retail, product launch, growth markets
Categories: Payments & Commerce
Companies: Reliance, SBI Card
Countries: India
This article is part of category

Payments & Commerce



SBI Card

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