NEW DELHI, 

 

PUNJAB National Bank (PNB) and Patanjali Ayurved Limited (PAL) have launched co-branded contactless credit cards in partnership with the National Payments Corporation of India (NPCI). The co-branded credit cards are offered on NCPI’s RuPay platform and are available in two variants - PNB RuPay Platinum and PNB RuPay Select.

Starting the new year on a positive note, both the co-branded cards come with a host of attractive benefits and spend-based waivers for the customers.

They offer a hassle-free credit service to purchase day-to-day Patanjali products, along with cash backs, loyalty points, insurance cover, and more. The cardholders may enjoy suitable cashback @2% for transactions over and above Rs 2,500, subject to a ceiling of Rs 50 per transaction at Patanjali stores.

PNB RuPay Platinum and PNB RuPay Select cardholders will receive a welcome bonus of 300 reward points on activation. Additionally, the customers will get complimentary domestic and international airport lounge access, PNB Genie Mobile Application for card management, add-on card facility, lucrative reward points on spends, along with cash advance/revolve, EMI, and auto-debit facilities.

Platinum and Select cards come with attractive insurance cover of Rs 2 lakh and Rs 10 lakh respectively for accidental death and personal total disability. Platinum card offers a credit limit of Rs 25,000 to Rs 5 lakh and Select Card Rs 50,000 to Rs 10 lakh. The Platinum version comes with a zero joining fee and an annual fee of Rs 500, while the Select version offers a low joining fee of Rs 500 and an annual fee of Rs 750. The annual fees will be waived off in case of the card is used at least once in each quarter in the preceding year.

Acharya Balkrishna, Managing Director of Patanjali Ayurved Limited, said, “The synergies of this partnership will help accelerate adoption of digital payments amongst users in deeper Tier-2 and Tier-3 markets.”

Other than the attractive benefits, the most important feature is the interest-free purchases of Patanjali products for 20-50 days.” Yoga Guru Swami Ramdev also said, “With an ever-changing lifestyle, people are more willing to buy products online. In such a time, this alliance with PNB and RuPay will provide the right opportunity to promote credit card usage among new users. This initiative will enable a seamless and safe shopping experience for customers at large while purchasing Patanjali products.”

Praveena Rai, COO, NPCI said, “We are pleased to associate with Punjab National Bank and Patanjali Ayurved for the launch of co-branded RuPay contactless credit cards. We believe these cards will provide a unique and memorable shopping experience for millions of PNB and Patanjali customers as it caters to their healthy lifestyle needs. Being a modern, contemporary, youthful and differentiated brand, RuPay endeavours to create innovative offerings for seamless payment solutions for our customers as a way of life. We at NPCI are constantly working towards making digital payments easier and safer for customers with RuPay. We are optimistic that this strategic collaboration will provide further impetus to RuPay’s growth journey in the credit cards segment.”Atul Kumar Goel, MD and CEO of PNB said, “It gives us immense pleasure to announce the launch of PNB Patanjali co brand credit card on RuPay platform. The collaboration is expected to extend optimised benefits for customers and the public at large.”