Together with Mastercard, BOB Financial Solutions Limited (BFSL) has launched four new credit cards for its customers in various segments, including affluent and entry-level credit card holders. Two other credit cards are launched with the country’s leading professional institutions. BFSL is a wholly owned subsidiary of Bank of Baroda (BoB) and is gearing up to meet the evolving needs of customers and markets.
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Below you will find more information about the suite:
eternity – In the World Mastercard program, Eterna will cater to the specific needs of the NBFC’s affluent customers. It will be offered to clients who are part of Bank of Baroda’s Radiance program, as well as other affluent clients inside and outside BoB
swaflamban – This card redefines “invitation only” as it targets low-income employees of selected companies and SMEs that have a banking relationship with BoB. Swaflamban will be an invitation product in the initial phase
Two co-branded cards in partnership with the Institute of Chartered Accountants of India (ICAI) and the Institute of Cost Accountants of India (ICMAI). These are offered exclusively to Chartered Accountants and Cost and Management Accountants respectively.
This launch is an extension of the more than 25-year-old partnership between Mastercard and BFSL. While each product has individual features and benefits, in a nutshell, Bank of Baroda credit card customers can take advantage of the following:
1. Travel Benefits – Free airport lounge access and savings on international spending with a reduced 2% Forex surcharge
2. Shopping Benefits – Accelerated Rewards Points for Online Transactions, for Bills and for Dinners
3. Activation Rewards and Expenses – Cashback in the form of reward points on the first transaction made within the activation period and bonus points when reaching defined spending thresholds
4. Insurance Benefits – Personal accident death cover (air and non-air)
5. Welcome Gift – Participate in a gift worth Rs 15000 on select products
The new credit cards also aim to reinvigorate the economic cycle by providing much-needed liquidity to new salaried customers (with the SwaVlaamsban card) and helping them join the cashless journey. It also offers various possibilities of hand-picked experiences to BFSL’s affluent customers through the Eterna credit card, and unprecedented features and benefits for CAs and CMAs, in recognition of their contribution to building a modern and self-sufficient India.
Speaking about the launch, Shailendra Singh, MD & CEO, BOB Financial Solutions Limited said: “We have entered this year with a clear vision and with the launch of these four products, we have achieved an important business goal. Not just BFSL, but all industries are currently going through a major wave of change, and these unprecedented times have fueled many ambitions if we look at them positively.”
Emphasizing Mastercard’s long-standing partnership with BFSL, Porush Singh Division President, South Asia, Mastercard, said: “Mastercard is committed to developing safe, secure and easier ways to make payments using our technology and expertise. The company is pleased to partner with BFSL in launching these differentiated products aimed at the affluent and professionals. We have worked closely with them to offer a range of financing solutions and raise awareness about the convenience, safety and security of digital payments. We aim to further strengthen our partnership with BFSL and provide the best solutions for their customers in the coming days.”