The Hindu Business Line : SBI extends debit card cash back campaign

Mumbai, Aug. 27 The State Bank of India group has extended the cash back campaign on its debit cards on point of sales for one more month, up to September 30, 2008.

The bank had launched the campaign for promoting usage of debit cards on July 1 for two months. Considering the overwhelming response from debit card holders, the bank has decided to extend the offer period by another month, it said in a press release.

The bank saw a 30-per cent increase in the use of debit cards for POS transactions since the campaign was launched, said a senior official from the bank.

Cash back on transactions (other than on ATM withdrawals and Internet transactions) will be credited to customers’ accounts within four to six weeks of the end of the campaign. The maximum amount of cash back during the entire period of offer will be Rs1,000 per debit card, said the press release.

“We have a huge debit card base, but the cards were not being used much for POS transactions. Customers were using them mostly for ATM transactions. The campaign is basically to increase the awareness about the usage of debit cards for POS transactions,” the official said.

More Stories on : Credit Cards & Debit Cards | Strategy | State Bank of India

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