SBI Cards collaborate with Titan to launch co-branded card; stock gains

22 Mar 2024 , 11:29 AM

SBI Cards and Payment Services Ltd shares rose on Thursday, March 22, after the business announced the Titan SBI Card, a new co-branded card created in collaboration with Titan business.

At around 11.03 AM, SBI Cards was trading 0.65% higher at ₹707.25, against the previous close of ₹702.65 on NSE. The counter touched an intraday high and low of ₹710.60, and ₹701.65, respectively.

The country’s largest pure-play credit card company announced a partnership with Titan Company Limited to launch the Titan SBI Card, a one-of-a-kind shopping credit card specifically designed to address customers’ aspirational spending needs, according to a stock exchange filing.

The Titan SBI Card provides several perks, including cashback on purchases across a wide range of lifestyle areas and reward points. Cardholders can receive Titan gift certificates worth over ₹2 lakh annually, in addition to other special incentives. The Titan SBI Card provides intelligently designed incentives on high-value expenditure categories such as watches, jewellery, and eyewear.

Among its primary features are cashback of up to 7.5% on purchases from Titan, Taneira, Titan EyePlus, and the company’s non-jewellery businesses. The card also offers a 5% reward on Mia, Caratlane, and Zoya throughout their retail and online businesses.

Titan SBI Card customers will also be able to receive Titan gift cards worth 3% of their Tanishq purchases.

Abhijit Chakravorty, the Managing Director and CEO of SBI Card, expressed satisfaction in unveiling the Titan SBI Card, a tailored credit card designed to meet the evolving preferences of Indian consumers towards aspirational living and premium products, as stated in a press release dated March 21.

Titan is India’s top lifestyle company and one of the most admired and regarded corporations in the country. Titan has expanded its offerings into Wearables, Indian attire, Fragrances, and Fashion Accessories, aiming to stand out in these lifestyle segments by leveraging its profound insight into customer preferences.

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