B L ;17 Jan 2014
Bharatiya Mahila Bank (BMB) and SBI Cards have joined hands for roll-out of credit cards to customers of India’s first women-focused commercial bank. This will be the first instance of a public sector bank promoting a white-label credit card issued by SBI Cards.
Under this arrangement, SBI Cards will issue and process the credit cards as white-label cards, allowing BMB to brand the cards as their own without having to invest in infrastructure. A white-label card does not carry the brand of the issuer (SBI Cards) on its face.
It will only in this case carry the brand of BMB. The agreement was signed by Usha Ananthasubramanian, Chairman and Managing Director, BMB, and Pallav Mohapatra, CEO, SBI Cards, here on Thursday. “We will look to cross-sell the credit cards to our customers and build volumes.
There are many women customers who are office goers at the middle level and yet do not hold a credit card,” Ananthasubramanian said. To start with, two variants — Gold and Platinum cards will be rolled out to customers
(This article was published in the Business Line print edition dated January 17, 2014)
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