BOB Financial Solutions Limited (BFSL) – a wholly-owned subsidiary of Bank of Baroda, has partnered with OneCard to launch mobile-first co-branded credit cards to deliver a world-class smart banking experience to tech-savvy young people . population across the country. The internationally valid credit card will be issued by BFSL and managed by OneCard on the VISA Signature platform.

Powered by a mobile app, OneCard offers its users complete control of the credit card – spending, rewards, limits, payments and more, providing an end-to-end digital experience. Built with full-stack technology, this credit card is designed with curated benefits and offers, along with a host of other privileges including lifetime validity, zero membership and annual fees, instant virtual card issuance, instant issuance of reward points and easy redemption, among others, in the app.

The card combines the principles of simplicity, transparency and gives customers full control over all aspects of the credit card through a single application. It also has the lowest exchange fees in the market at just 1%.

Speaking at the launch, Shailendra Singh, Managing Director and CEO of BFSL, said: “BFSL is currently on its transformation journey, investing in technology, processes and people to ensure we deliver the best cards in the world. credit to our clients under Bank of Baroda We are delighted to have OneCard as a partner in our transformation process. The mobile-focused OneCard further strengthens our portfolio of offerings, especially for the tech-savvy younger generation, and strengthens our commitment to unique and differentiated offers for our customers. “

BFSL was established under the name BOBCARDS in 1994 by Bank of Baroda, to manage the card business. BFSL issues and manages Bank of Baroda credit cards and is committed to becoming one of the largest credit card issuers in the country.

At the launch, Anurag Sinha, co-founder and CEO of OneCard said, “The pandemic has caused a dramatic shift in consumer sentiment, which has resulted in a strong inclination towards easy digital payment solutions. With OneCard, we strive to give our customers a world class, mobile-centric experience, giving the user absolute control over their credit card. Our collaboration with BFSL is a big step forward in our vision to reinvent credit and payments in India while meeting the needs of consumers.

Sujai Raina, Head – Business Development, India, Visa, said: “At Visa, we are delighted to fuel the partnership between BFSL and OneCard for this unique proposition that sets new standards for seamless customer onboarding and transaction experience. As India conducts more and more reference digital transactions, it is imperative to provide broader and more accessible credit options. Building on the strength of our solutions and the confidence in our brand, we are proud to work with partners and create new and innovative experiences for their consumers.

FPL Technologies, which launched OneCard, is a fintech start-up that aims to digitally revolutionize credit and payments in India. OneCard allows users to control all aspects of the card from one app. This includes locking the card, activating offline and online pulls, activating domestic and international transactions, and paying the bill. The company previously launched the OneScore app in 2019, to allow people to easily and securely monitor and manage their credit health; without any spam. The rating platform is very popular and has gained over 8 million users in just two years after its launch.

Bank of Baroda shares were last trading in BSE at Rs. 88.90 from the previous close of Rs. 93.00. The total number of shares traded during the day was 2,538,111 in more than 8,531 transactions.

The stock hit an intraday high of Rs. 92.00 and an intraday low of 88.00. The net turnover during the day was Rs. 228,076,289.00.