Union Bank of India (UBI), in association with National Payments Corporation of India (NPCI), on Friday launched ‘Union MSME RuPay Credit Card’ for meeting business related operational expenses of Micro, Small & Medium Enterprises(MSMEs). This Card comes with interest free credit up to 50 days.
“The dedicated card for MSMEs is available to eligible borrowers of Union Bank of India...The Card also offers EMI facility to the customers on their business-related purchases,” the public sector bank said in a statement.
MSMEs will also get specially curated business services on this Card which will help them in taking their business on most of the digital platforms, per the statement.
Additionally, MSME customers will get accidental insurance coverage of up to ₹10 lakh, domestic airport lounge access of 2 per quarter and other rewards, the Bank said.
Nidhu Saxena, Executive Diector, UBI, said the Card will help improve the digital delivery channel in servicing MSME clientele.
“This Credit Card will reduce the demand for cash withdrawal by MSMEs for business expenses besides simplifying their payment mechanism,” he said.