SBI Cards and Payment Services Limited — Updates, 22-07-2025: Press Release

SBI Card has partnered with PhonePe to launch co-branded credit cards: PhonePe SBI Card SELECT BLACK and PURPLE. These cards offer enhanced rewards on PhonePe app spends (up to 10% value back) and other online shopping (up to 5%). The application and bill payment processes are integrated within the PhonePe app for ease of use. Key benefits include welcome e-gift vouchers, travel vouchers on achieving spending milestones (e.g., ₹5,000 on 5 lakh annual spend for SELECT BLACK), and lounge access. This collaboration expands credit card usage, leveraging PhonePe's large user base of over 63 Cr, streamlining digital payments for investors.