Federal Bank introduces credit card variants for digital payments through Visa

Commenting on the specifications MD & CEO of Federal Bank Shyam Srinivasan said, Card issuances will be “digital-first” through a “three-click” instant credit card approach and the cards will be immediately available for use in the bank’s mobile app FedMobile.

By Sneha Sengupta On September 5, 2021 14:39 IST

On September 5, the Federal Bank proclaimed the launch of its credit card to facilitate digital payments through Visa. The financial company said in an official statement that, the launch was aligned with the bank’s strategy to improve unsecured and high yielding books. “The cards will have three variants—named Celesta, Imperio and Signet– designed to cater to the needs of different customer segments and would be offered to customers with a range of powerful offers,” stated the official statement.

TR Ramachandran, Group Country Manager of India and South Asia at Visa averred, “With the number of credit cards currently far lower than credit eligible customers in India, we see great potential in such partnerships.”

The offers granted by the bank are Amazon Gift vouchers with reward points, BOGO (buy one get one) at INOX movie theatre, membership schemes, a percent of fuel surcharge waiver, 15 percent dining discounts, and special lounge access at airports across India. The federal Bank is on the verge to introduce credit cards for its users in accordance with the National Payments Corporation of India’s (NPCI) RuPay.

banking credit card Federal Bank FedMobile