New Delhi: SBI Card, India’s largest pure-play credit card issuer, has reached a significant milestone by surpassing 2 crore cards in force. This achievement reflects the company’s commitment to offering innovative solutions and enhancing customer experiences, solidifying its position as a leader in transforming India’s credit card landscape. The company continues to uphold its promise of being the 'Currency of Digital India.'
Since its establishment in 1998, SBI Card has been at the forefront of designing a wide range of products tailored to meet the diverse needs of customers. From core credit cards to co-branded partnerships with premium brands, as well as rewards-driven and lifestyle-focused offerings, SBI Card has consistently set new standards for customer-centric innovation. The company has experienced a remarkable growth trajectory, with a 25% compound annual growth rate (CAGR) in cards in force and a 26% CAGR in spending between FY19 and FY24.
Abhijit Chakravorty, MD & CEO of SBI Card, commented on the milestone: “The achievement of crossing the 2 crore cards in force mark is a testament to the trust and confidence that our customers have placed in us. It highlights our dedication to innovation, superior customer service, and our vision of providing every Indian with convenient, secure, and rewarding payment solutions. We remain committed to delivering unmatched value to our growing customer base, addressing their evolving needs."
SBI Card boasts an extensive customer acquisition network that spans across India, including both bancassurance (BANCA) and open market channels. The company offers a wide portfolio of credit cards, including the exclusive AURUM card for the super-premium segment and the feature-rich SBI Card Elite for premium customers. Other products, such as the CASHBACK SBI Card, SimplyCLICK SBI Card, SimplySAVE SBI Card, and SBI Card PULSE, offer tailored benefits to meet diverse customer preferences.
Additionally, SBI Card offers co-branded travel cards, including the KrisFlyer SBI Card, Air India Signature SBI Card, BPCL SBI Card, and IRCTC SBI Card, catering to travelers and globetrotters. Retail-focused cards, such as Titan SBI Card and Reliance SBI Card, offer valuable benefits on lifestyle spending. Today, SBI Card is available on all major payment networks in the country.
In recent years, SBI Card has also leveraged cutting-edge technology to provide seamless digital onboarding, enhanced security features, and robust rewards programs, making it a preferred choice for nearly 2 crore customers across India.
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