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ICICI Bank partners with NPCI to launch RuPay credit cards
August 29, 2022
ICICI Bank and NPCI jointly launched the ‘ICICI Bank Coral RuPay Credit Card’. Seen at the launch event (L-R): Mr. Amarjit Walia, Product Head- Cards, ICICI Bank; Mr. Sudipta Roy, Head- Credit Cards, Payment Solutions and Merchant Ecosystem, ICICI Bank; Mr. Rakesh Jha, Executive Director (Designate), ICICI Bank; Ms. Praveena Rai, COO, NPCI; Mr. Rajeeth Pillai, Chief Relationship Management and Marketing, NPCI and Mr. Subhrajit Basu, Regional SVP, APAC, Discover Financial Services.
ICICI Bank and NPCI jointly launched the ‘ICICI Bank Coral RuPay Credit Card’. Seen at the launch event (L-R): Mr. Amarjit Walia, Product Head- Cards, ICICI Bank; Mr. Sudipta Roy, Head- Credit Cards, Payment Solutions and Merchant Ecosystem, ICICI Bank; Mr. Rakesh Jha, Executive Director (Designate), ICICI Bank; Ms. Praveena Rai, COO, NPCI; Mr. Rajeeth Pillai, Chief Relationship Management and Marketing, NPCI and Mr. Subhrajit Basu, Regional SVP, APAC, Discover Financial Services.
The card offers an array of benefits including reward points, airport lounge access, discounts on dining and movie tickets
It provides personal accident insurance and 24x7 concierge services
Mumbai: ICICI Bank today announced its partnership with National Payments Corporation of India (NPCI) to launch a range of credit cards on RuPay, the indigenous payments network. To begin with, the ICICI Bank RuPay Credit Card is available in the Coral variant of the Bank’s Gemstone series, which will be followed by Rubyx and Sapphiro variants soon.
Called, ‘ICICI Bank Coral RuPay Credit Card’, the contactless card offers a host of privileges and benefits including reward points on daily purchases like shopping and restaurants, paying utility bills, complimentary domestic airport & railway lounge access, waiver of fuel surcharge, discounts on movie tickets & dining, among others. The card also offers exclusive benefits of the RuPay network such as accident insurance coverage to the cardholder and dedicated personal concierge services.
Speaking on the launch, Mr. Sudipta Roy, Head- Credit Cards, Payment Solutions and Merchant Ecosystem, ICICI Bank, said, “ICICI Bank has always been at the forefront of offering innovative, powerful and distinctive value propositions for its customers. We are delighted to partner with NPCI to launch ICICI Bank Credit Cards on RuPay network, which is an Indian card payments network equipped with state-of-the-art technology. This partnership has combined the advantages of ICICI Bank Credit Cards with RuPay’s exclusive offerings, providing enhanced benefits to customers. We will add more cards from our Gemstone collections to the family of ICICI Bank Rupay debit and credit cards.”
Ms. Praveena Rai, COO, NPCI said, “We are happy to partner with ICICI Bank to launch Coral Credit Card on the RuPay network. We believe our association with ICICI Bank will provide a convenient, rewarding and delightful shopping experience to the users of this card. Over the years, RuPay has progressively established itself as a modern, contemporary and youthful brand by offering innovative and customer oriented value propositions backed up by cutting-edge technology.”
Exclusive benefits* of the ‘ICICI Bank Coral RuPay Credit Card’:
- Earn 2 reward points, on every Rs 100 spent on the card (except fuel)
- Earn 1 reward point, on every Rs 100 spent on utilities and insurance categories
- Get 2000 bonus reward points on spending Rs 2 lakh on the card in a year. Additionally, earn 1,000 bonus reward points each time Rs 1 lakh is spent on the card thereafter (with maximum of 10,000 reward points per year)
- Complimentary access to the domestic airport lounge and select railway lounges in India
- Exclusive discounts on movie ticket bookings on BookMyShow
- Personal accident insurance cover of Rs 2 lakh
- 24x7 Concierge services
- Exclusive dining offers through ICICI Bank Culinary Treats Programme
- Waiver of fuel surcharge on fuel transactions
*T&C apply
To apply for the card and to read terms & conditions, visit: https://www.icicibank.com/Personal-Banking/cards/Consumer-Cards/Credit-Card/Coral#RuPay-card/index.page
For news and updates, visit www.icicibank.com and follow us on twitter at www.twitter.com/ICICIBank
About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ₹ 14,15,581 crore at June 30, 2022.
For media queries, write to corporate.communications@icicibank.com
About NPCI: National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card,Immediate Payment Service (IMPS),Unified Payments Interface (UPI),Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay.
NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
For more information, visit: https://www.npci.org.in/
Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities laws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov
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