Fintech major PhonePe has introduced two co-branded credit cards in collaboration with SBI Card, India’s largest pure-play credit card issuer.

The newly launched cards—PhonePe SBI Card Purple and PhonePe SBI Card Select Black—mark PhonePe’s second credit card alliance, following its earlier partnership with HDFC Bank.

Issued on both RuPay and Visa networks, these cards aim to expand access to formal credit while offering enhanced rewards on everyday spending. The RuPay versions are UPI-linkable, allowing seamless payments at millions of merchants across India. The Visa variants can be securely tokenised within the PhonePe app for digital transactions.

Catering to the growing demand for integrated credit and payments, the PhonePe SBI Cards come with accelerated reward points on categories such as groceries, travel, utility bills, insurance premiums, and PhonePe in-app transactions.

The Select Black card is positioned as a premium offering, providing up to 10% value back on spends via the PhonePe and Pincode apps, and 5% on other online transactions. The Purple card offers up to 3% and 2% value back on the same categories respectively.

Also read | HOW BUSINESS CREDIT CARDS HELP ENTREPRENEURS MANAGE EXPENSES

Additional perks include welcome e-gift vouchers worth ₹1,500 (Select Black) and ₹500 (Purple), annual travel vouchers, fuel surcharge waivers, and complimentary domestic lounge access.

Shivnath Thukral Joins PhonePe as VP of Public Policy

In a separate development, PhonePe has appointed Shivnath Thukral, former Public Policy Director at Meta India, as its Vice President for Public Policy and Government Affairs.

In his new role, Thukral will oversee PhonePe’s engagements with policymakers and regulators. The company stated that he will work closely with PhonePe co-founders Sameer Nigam and Rahul Chari to shape its external policy strategy.

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