SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) is a payment solutions provider in India. It is incorporated as a joint venture between the State Bank of India, India's largest bank, and The Carlyle Group. They are headquartered in Gurgaon, Haryana/Delhi NCR and have branches in over 50 cities across India. For the financial year ending March 31, 2016, SBI Card recorded a net profit of INR271 crore and a profit before tax of about INR438 crore. As of November 2017, the company has a customer base of 5 million credit cards.
Video SBI Cards
In 1998, GE Capital partnered with State Bank of India to float two joint venture companies, including SBI Cards for developing the credit card business in India.
SBI Cards & Payment Services is the front end of the business, focusing on marketing and distribution of credit cards. GE Capital Business Process Management Services takes care of the technology and processing as a captive BPO unit. GE Capital owns 40 per cent in the former and 60 per cent in the latter.
SBI owns 60 per cent in SBI Cards and Payment Services and 40 per cent in the captive BPO unit.
As on July 2016, State Bank of India was looking for a replacement for GE Capital in the credit card joint venture in accordance with General Electric's global plan to exit the finance business.
On December 15 2017, the Carlyle Group was announced as the new partner, replacing GE Capital in this joint venture.
Maps SBI Cards
SBI credit cards
SBI Card caters to both the individual and corporate segments. It offers a number of cards under each of the following categories:
- Elite Card
- Prime Card
- Air India Signature Card
- Visa Corporate Card
- Simply Save Card
- BPCL Card
- Yatra Card
- IRCTC Card
- Central Card
- FBB Card
- Simply Click Card
- TATA Card
Logo
The SBI Card logo bears the symbol of the State Bank of India. The large blue circle reflects unity and completeness while the white one represents the common man as a vital part of the bank, despite the huge size of the bank. The logo also suggests a keyhole which is said to be the symbol of safety, security and strength. Another interpretation is that the white circle is the bank's branch and the vertical line stands for the streets and lanes of any city which lead to the bank's branch, highlighting that wherever one goes, SBI is there to serve. It is also said the inspiration for this design came from the Ahmedabad city's Kankaria Lake.
Milestones of SBI Card
- 1998: SBI Card enters the credit card space
- 1999: Reaches the '1 Lakh' mark within 10 months of launch
- 2002: SBI Card enters the '1 Million Cards' club
- 2002: First partnership with a public sector bank
- 2003: SBI Card launches 8 Cities Affinity Cards with special tie-ups and offers
- 2005: The 2 Million Cards Milestone crossed
- 2006: SBI Card launches SBI Railway Card for Indian Railway travellers
- 2006: The launch of co-brand cards, SBI Spicejet Card and TATA Cards, India's first loyalty cum credit card
- 2006: SBI Card becomes the second largest credit card issuer, with 3 million cards
- 2010: SBI Platinum Card launched
- 2011: Launches chip-based EMV Cards
- 2012: Launches SBI Signature Card for HNIs
- 2013: SBI Card launches the Air India SBI Signature Card and the Air India SBI Platinum Card
How to check SBI credit card application status
The status of a SBI credit card application can be checked online using the "track your application" facility provided at sbicard.com. The 13 digit application number received while applying for the card needs to be used to get the status of the application.
Application status can also be checked by utilizing the toll free customer care number provided in the "Contact Us" section of the SBI Card website.
Awards
- Reader's Digest 'Most Trusted Brand Gold Award' (2008, 2009, 2010, 2012, 2013)
- Rated #2 in CNBC Consumer Awards 2 years in a row (2007-2009)
- Winner of Best Mature Captive Delivery Unit in Asia (2009)
- Reader's Digest 'Most Trusted Brand Gold Award' (2008)
- Rated #2 in Business World Survey on Customer Satisfaction (2007)
See also
- SBI Life Insurance Company
References
External links
- Official website
Source of the article : Wikipedia