Which of the Following Banks Has Launched India’s First Corporate Credit Card on the RuPay Network?
In the age wherein digital transactions have become the backbone of businesses, the banking sector is in a constant state of evolution with innovative solutions tailored to corporates. The bank made an extraordinary entry by launching the first Corporate Credit Card on RuPay Network, setting a new benchmark. This Corporate Credit Card on RuPay Network combines efficiency with UPI functionality, offering a seamless payment solution for modern enterprises.
This is a path-breaking initiative in the sense that it positions the bank as the benchmark for the integration of UPI functionality into a corporate credit card on RuPay Network. The launch of the IndusInd Bank eSvarna credit card offers businesses and their employees a unique value proposition and a paradigm shift in the user experience of a corporate credit card.
Introduction to IndusInd Bank eSvarna – The First Corporate Credit Card on RuPay Network
On December 27, 2023, IndusInd Bank launched its first corporate credit card on RuPay network called IndusInd Bank eSvarna. It is indeed the first corporate credit card to be launched on the RuPay network of India and is a seamless and integrated payment solution for corporate customers. The launch is an underpinning of the promise of IndusInd Bank to its professional and business customers in its drive to further enhance customer experience, where the reliance on credit facilities is high.
Talking about the launch, Soumitra Sen, Head of Consumer Banking and Marketing at IndusInd Bank, said that the eSvarna credit card was designed with a deep understanding of the needs of Indian professionals and corporate entities. With functionality related to UPI combined with the RuPay network, users now have unprecedented flexibility and ease in managing their financial transactions for personal use and even for business.
Five Key Features of the IndusInd Bank eSvarna Credit Card
- UPI Integration with Corporate Credit Cards
The uniqueness of IndusInd Bank eSvarna lies in offering the facility of a UPI payment. This is the first for India as no other corporate credit card offers this functionality enabled through UPI. Corporate clients can now link their eSvarna credit card to enable smooth, secure, and convenient transactions from the apps, allowing them to use UPI at merchant outlets. UPI has emerged as one of the most preferred digital payment modes in India, and this integration opens up new avenues for corporate users to make payments in real-time.
- Comprehensive Perks and Rewards Program
The eSvarna credit card keeps a holistic approach towards its Perks and Rewards Program, providing the corporate user with a whole set of exclusive perks and rewards that could fulfill the lifestyle and travel needs of the corporate user. Its cardholders can enjoy lounge access for free at the airport, which will make them feel highly privileged on a business trip. Further, the cards provide relief in fuel surcharges so that businesses can take care of their huge fuel bills. To corporate bodies and employees, these benefits bring savings on rising costs in travel and fuel. For more on this, see our breakdown of Fuel Surcharge on Credit Cards, where we explain how much you save and which cards offer the best waivers.
- Seamless Transactions at Merchant Outlets
The eSvarna credit card has been created to allow smooth, painless transactions at merchant outlets. Whether it is a business lunch or tickets to travel, or purchases of supplies, the card enables hassle-free transactions at any point of sale. With RuPay’s massive acceptance network all over India, businesses find it easy to accept this card for everyday transactions. In addition, it connects to UPI apps to make the payment process highly easy as the user can just scan and pay by using his/her linked credit card.
- Comprehensive Travel Insurance Coverage
It also provides complete travel insurance for the corporate traveller. To ensure that the corporate user enjoys an incident-free trip while travelling both within and outside the country, the IndusInd Bank eSvarna credit card provides insurance coverage against travel disturbances, lost luggage, or medical emergencies. This feature is a lifeline for any organisation whose employees often travel for business purposes and where they are always hedged against all aspects of unpredictability.
- Tailored Rewards Program for Corporate Entities
With this, the IndusInd Bank eSvarna credit card reward system is carefully designed to benefit corporate firms. The points for business transactions are given to customers for their purchases, and they can gain a variety of benefits such as vouchers for travelling, gifts, and cashback rewards. Hence, the set of rewards tailored to corporate clients is an added value to their corporate transactions, as well as ensuring that expense cuts are achieved.
The Significance of Corporate Credit Card on RuPay Network Integration
One more relevant feature that determines the importance of the eSvarna Corporate Credit Card on RuPay Network is its connectivity to the RuPay network. In the last few years, the NPCI-launched Indian payment gateway, RuPay, has gone viral. Corporate Credit Card on RuPay Network offers the customer a safe and reliable payment infrastructure, and it is accepted by millions of merchants across the nation.
Launching the eSvarna Corporate credit card on RuPay network is one such stride of IndusInd Bank to brand itself with the indigenous payment system of India. Choosing RuPay positions it better about the government’s stated aspiration of digital inclusion and building a more robust financial environment. IndusInd Bank can avail competitive transaction fees and better security features, which are critical for corporate customers, through this move.
IndusInd Bank’s Focus on Corporate Clients
It will further strengthen the commitment of IndusInd Bank towards catering to its corporate clients with the launch of the eSvarna corporate credit card on RuPay network, which is designed to fulfil the highly discerning needs of professionals and businessmen who require a financial product not only for pure credit benefits but exclusive privileges in the arena of lifestyle-oriented benefits. Such an initiative aims to create an ecosystem wherein the corporate clients can manage their expenses, earn rewards, and make the most of the exclusive privileges that strengthen their overall financial experience.
For example, the competition landscape of banking will be given a distinct edge if a product such as the eSvarna Corporate credit card on RuPay network is launched. It aims at the corporate entities wishing for easy payment platforms, luxurious travel experiences, and complete ease in managing business expenses on a single portal.
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Conclusion: A Game-Changer for Corporate Transactions
The IndusInd Bank eSvarna credit card will set new standards in the arena of corporate financial solutions. IndusInd Bank launches India’s first corporate credit card on RuPay network, which comes with UPI functionality, bringing to the market a product laced with ease of use, flexibility, and a gamut of exclusive benefits designed for corporate users. Be it making UPI payments, accessing luxurious travel benefits, or complete insurance cover, the card delivers an all-around solution in keeping with the evolving needs of today’s business world.
With growing businesses integrating digital forms of payment and, alternatively, looking for innovative credit solutions, IndusInd Bank’s eSvarna credit card stands out as a very forward-thinking offering to enhance the corporate user experience in India.
