Indian Oil teams up with SBI to launch a power-packed co-branded RuPay debit card

New Delhi: Raising the bar with newer offerings for the customers in the New Year, India's largest fuel retailer, Indian Oil, has now teamed up with State Bank of India (SBI) India's largest bank, to launch the Indian Oil – SBI co-branded RuPay Debit Card.

The Indian Oil – SBI co-branded RuPay Debit Card has been launched by Indian Oil's Chairman Shrikant Madhav Vaidya and SBI's Chairman Dinesh Kumar Khara in a virtual ceremony held today.

The features of the card are:

• 6X Reward Points for every Rs. 200/- spent at Indian Oil fuel stations
• Fuel benefits – Cardholder earns loyalty points worth 0.75 percent against the purchase of fuel at Indian Oil fuel stations
• Pay with a tap (contactless card) for a single transaction of up to Rs 5,000/-
• Earn Reward Points on spends on dining, movies, grocery, and utility bills
• Redeem Reward Points for dining, movies, grocery and paying utility bills
• No monthly limit for purchasing fuel
• SBI-Indian Oil Co-branded RuPay Debit Card can be issued anywhere in India
• Apply for card by visiting SBI's home branch.

Speaking on the occasion Vaidya said, "We are proud to partner with SBI, having the largest number of debit cardholders in the country, to bring unmatched convenience to our fellow citizens. This power-packed card is backed by the unparalleled reach of Indian Oil and SBI across the country. It will be an ideal mode of payment for customers in the current pandemic situation to opt for cashless and hassle-free payment. With this new tie-up, Indian Oil is happy to expand its presence in the fast-developing debit card ecosystem in India, with an aim to offer attractive rewards and benefits for our customers. Indian Oil has been a pioneer in promoting cashless and digital transactions with more than 98 percent of our vast network of 30,000 fuel stations capable of accepting credit/debit card/wallet payments. This initiative will also promote digital payments and is in line with the government's vision of a Digital India," he added.

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Commending the partnership between SBI and Indian Oil, SBI's Chairman Dinesh Khara said, "We are pleased to launch the 'SBI-Indian Oil contactless Rupay Debit Card' through our strategic partnership with Indian Oil. We believe this co-branded card, with 'Tap and Pay' technology, several attractive benefits and associated offers will provide a rewarding experience on the purchase of fuel to the cardholders.  Fuel cards are specially designed to save money every time an individual refills his vehicle with fuel. This tie-up with Indian Oil will reward all the cardholders of SBI-Indian Oil co-branded debit Card with enhanced loyalty points," he added.

The SBI Indian Oil Debit Card has been launched across India. A customer, anywhere in India, can get the card by visiting the SBI's home branch. It is a contactless card and transactions up to Rs 5,000/- can be paid for with just a tap. Cardholders can avail of several benefits on fuel purchases at Indian Oil petrol pumps.

Disclaimer: This story is a press release and is being published without any editing by PSU Watch desk. Our editorial team has only changed the headline.

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