IndusInd Bank has launched ‘eSvarna’ which is a corporate credit card on RuPay network. eSvarna RuPay credit card can be used to link with any supporting UPI app and then payments can be made using it too. “The card facilitates smooth transactions at merchant outlets and allows users the flexibility to make UPI payments by linking the card with UPI-enabled apps” says a press release by IndusInd Bank dated December 26, 2023.
While many retail credit cards were launched on RuPay network however as per the claim by IndusInd Bank eSvarna is India’s first corporate RuPay credit card to be linked with UPI
“This launch positions us as the first in the country to integrate UPI functionality with a Corporate Credit Card,” says IndusInd Bank in the press release.
Presently there is no joining or annual fee for eSvarna Rupay corporate credit card.
Source: IndusInd Bank website
What does eSvarna RuPay credit card offer?
eSvarna credit card is targeted to those business cardholders who frequently travel and require an airport lounge access too. It must be noted that this credit cards are meant to be used for business transactions and not for personal expenses.
“Corporate travellers can receive the added benefit of comprehensive travel insurance coverage and an exclusive rewards program. This makes this credit card relevant for various business transactions,” said IndusInd Bank in the release.
Soumitra Sen, head, consumer banking and marketing, IndusInd Bank said, “Indian professionals and businessmen who travel extensively and have a need for lifestyle-related value added benefits can take up this card. The card caters to their discerning lifestyle needs and offers benefits across various categories, including travel, wellness, and lifestyle.
According to IndusInd Bank website, the RuPay eSvarna credit card allows the cardholder eight domestic and two international complimentary lounge visits every tear. Further, fuel surcharge waiver of 1% is also available at all fuel stations on transactions between Rs 400 and Rs 4,000. The lost card liability insurance for eSvarna credit card is available up to a limit of Rs 15 lakh.
In case your card or card details are stolen and used duplicitously by producing counterfeit plastic, the bank offers a comprehensive insurance coverage. In case of theft or loss of card, this insurance covers unauthorised transactions on the card, post reporting the loss to the bank. This card also has travel insurance coverage that covers your loss of passport, ticket, baggage delay, missing connecting flight and air accident death.
The Reserve Bank of India enabled UPI on credit card functionality only for RuPay credit cards till date, hence Visa and Mastercard credit card holders cannot link their credit cards with an UPI app as of now.
