SBI Cards and Payment Services Limited — Important, 22-07-2025: Product launch

SBI Cards and Payment Services has launched two new co-branded credit cards: PhonePe SBI Card PURPLE and PhonePe SBI Card SELECT BLACK. These new rewards-category cards are aimed at the domestic market. This strategic partnership with PhonePe, a prominent digital payments platform, is set to expand SBICard's product offerings and potentially grow its customer base by leveraging PhonePe's extensive user network. This move enhances the company's competitive stance in the Indian credit card sector, particularly within the lucrative rewards segment, indicating a focus on digital-first consumer engagement.