Federal Bank and NPCI launch RuPay Signet contactless credit card

By Léandra Monteiro

The Federal Bank has joined forces with the National Payments Corporation of India (NPCI) to launch the ‘Federal Bank RuPay Signet Contactless Credit Card’. One of the strengths of this card is that it comes with the lowest Annual Percentage Rate (APR) starting at just 5.88% per annum.

Federal Bank RuPay Signet credit card holders will have access to a wide variety of deals and offers across all categories including travel, dining, shopping, sports, entertainment, lifestyle and more. Moreover. With a range of attractive offers, the card is currently available to existing customers of the Bank. Offers include Amazon gift vouchers as welcome benefits, attractive reward points, a free Buy One Get One (BOGO) offer at INOX, free membership programs, free Swiggy vouchers, free access to lounges in national and international airports and much more.

Adopting a “Digital First” approach, the card is immediately available for use in FedMobile, the Bank’s Mobile Banking application, through a 3-click process. The physical card will be delivered to the customer in due course. Specifically designed for Millennials, this card offers an interesting 3-2-1 rewards structure customized for them. They would get 3x spend rewards for Electronics and Clothing categories, 2x rewards for Entertainment category and 1x rewards for other categories, using the Federal Bank RuPay Signet credit card.

Commenting on the launch, Ms. Praveena Rai, COO, NPCI said: “We are delighted to launch together with our partner bank – Federal Bank RuPay Signet contactless credit card. This card has great potential to attract new generation customers as it offers a full set of benefits tailored to their lifestyle, supported by an innovative reimbursement system. At NPCI, for RuPay, we continue to work to provide a pleasant, contactless shopping experience for all of our customers. We also believe that our association with Federal Bank will enable wider penetration of RuPay contactless cards in the country. “

In virtually launching the card, Shalini Warrier, Executive Director and Business Leader – Retail, Federal Bank said: Offer, the RuPay credit card. This card is also a symbol of our strong partnership with NPCI, an entity known for its innovation in the field of retail payments.