Online spenders will now get a bigger bang for their buck, thanks to SBI Card’s — SimplyCLICK — a new credit card focused on ‘online shopping’.
For this new offering, SBI Card has entered into a strategic partnership with seven of India's biggest e-commerce players — Amazon India, BookMyShow, Cleartrip, FabFurnish, Food Panda, Lens Kart and Ola Cabs — all frontrunners in their respective categories.
Billed as an industry first in terms of a credit card’s focus on ‘online shopping’, the SimplyCLICK SBI Card will offer accelerated reward points to the tune of 5X on all online spends made by customers.
Additionally, the card will offer reward points to the tune of 10X to cardholders on purchases made on partner sites.
As against the current practice of earning one reward point for, say, every ₹100 spent, a customer using the SimplyCLICK credit card would get 15 reward points for the same amount of spend in online shopping.
“We have deep dived into the spending habits of this set of consumers to design the features of our latest card and make their online shopping experience more rewarding,” Vijay Jasuja, CEO, SBI Card, said here on Tuesday.
Jasuja highlighted the good growth in e-commerce spends in the country in the last two years and this prompted the card issuer to come up with an initiative of offering the best to its consumers.
The growth has been so staggering that 40-45 per cent of all spends made through SBI Card is accounted for by e-commerce transactions, he said.
SBI Card’s business on e-commerce has doubled in the last 12 months
Other benefits A customer can get up to ₹4,000 worth of vouchers by spending ₹2 lakh annually via the online medium.
The SimplyCLICK SBI Card will come with a fee of ₹499 and will reward customers with an Amazon e-gift welcome voucher worth ₹500. The renewal fee will be reversed on crossing annual spends of ₹1 lakh.
SimplyCLICK SBI Card can be used at all merchant outlets within India and worldwide.