Credit card rewards: Make the most of cashbacks
Credit card cashback offers not only help us save money, but also give us opportunities to reduce costs on our daily expenses. This could involve shopping, eating outside or even paying your utility bills. However, did you know that with proper planning, you can double your cashback rewards?

RuPay cardholders to get 25% cashback on in-store purchases in 7 countries till July 31
Mumbai: NPCI’s RuPay card network has announced a limited-time special cashback offer scheme for both RuPay credit and debit cardholders, from May 15 to July 31. During the offer period, customers will receive 25 per cent cashback on in-store point-of-sale purchases made at merchants accepting cards on either ‘Discover’ network or ‘Diners Club International’ within Canada, Japan, Spain, Switzerland, UAE, UK and US.

HDFC Bank PIXEL: India’s first virtual credit card to allow you choose billing cycle, merchants | Here’s how to apply
HDFC Bank has launched a new virtual credit card called ‘PIXEL’. The card will come in two variants – PIXEL Play and PIXEL Go. PIXEL signifies HDFC Bank’s debut in an end-to-end mobile app-based customizable credit card range.

RuPay credit, debit cardholders to get 25% cashback on purchases in 7 nations

Parag Rao explains how HDFC Bank virtual credit card works

Top 7 credit cards in India for international travel: Check exclusive features and benefits
Are you a frequent traveler and looking for a credit card with exclusive features and benefits on international travel? It’s a good idea to go for a card that offers complimentary domestic and international lounge access, rewards on flight ticket bookings, low forex markup fee and discount on hotel bookings, among other benefits.

HDFC Bank unveils PIXEL range of digital credit cards

HDFC Bank launches virtual credit card: Up to 5% cashback, Rs 500 annual fee; check all features

Why paying all your bills using a credit card makes sense?
Paying all your bills using a credit card can offer numerous financial benefits, especially when the idea is to keep a track of your expenses and building a strong financial records for good credit score. Some people despite having multiple credit cards don’t make use of them. They continue to hold the cards without making any transactions. They are either afraid of bigger bills or they feel that they will pay a higher amount if they start using credit cards for all their transactions. However, this is not true at all.

Bijith Bhaskar resigns as ICICI Bank’s cards and payments head

Federal Bank to submit plan for co-branded cards to RBI in next few days
Federal Bank expects to submit its plan to the Reserve Bank of India (RBI) in the next few days, detailing the corrective actions the bank has taken in response to concerns raised by the banking regulator about its co-branded cards. The private lender does not expect any significant impact of RBI’s action on its fee income due to RBI’s order to issue new co-branded cards, according to Shalini Warrier, executive director, Federal Bank.

Visa appoints Sujai Raina as India head; to oversee strategic initiatives
Besides, Sandeep Ghosh will continue in his role as Group Country Manager for India and South Asia. He will oversee operations in India and other markets in the subcontinent, including Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives, Visa said in a statement.
 

Top 5 credit cards for online shopping in India | Check features, benefits and fees
The demand for online shopping credit cards has risen exponentially over the last few years thanks to burgeoning e-commerce marketplaces. Online shopping has gained popularity over traditional offline stores, at least in cities. People are buying everything online gadgets to groceries.

7 critical mistakes to avoid when choosing a credit card
Credit cards have become part and parcel of our daily financial habits. We use credit cards every day for making transactions as it is not only easy but convenient to track our expenses. However, it becomes important for us to opt for cards that are valuable for us and more importantly those which are helping us save money.

Best Fuel Credit Card: This HDFC card earns you up to 50 litres of free fuel annually| Know other benefits
Best fuel credit card: Selecting a credit card can be confusing as there are a plethora of options available for customers. Banks customize offers and benefits on their cards based on user preferences. Card issuers are offering on their products unique benefits like cashback, discounts, reward points and fuel points – specifically for fuel purchases, etc.

Dealing with defaulters remains a challenge for SBI Card
SBI Cards and Payments Services Ltd's healthy 25% growth in overall credit card spending in FY24 failed to translate into even a 10% profit increase, disappointing investors. Despite the subdued profit growth, the stock still commands a price-to-earnings multiple of 29x based on FY24, reflecting optimism about the future. However, the trend in Q4FY24 mirrors the preceding three quarters, with no signs of material improvement in the near future.

Top 4 credit card issuers lose market share in FY24
Mumbai The top 4 credit card issuers of the country saw a decline in their market share during FY24, both in terms of monthly card spends and total cards outstanding, according to data by the Reserve Bank of India. The market share of the top 4 issuers – HDFC Bank, SBI Card, ICICI Bank and Axis Bank – declined to 71.98 per cent as of March 2024 from 74.79 per cent a year ago, both due to expansion in the overall spends base and accelerated growth seen by mid-sized players.

Mastercard Q1 Results: Profit beats St expectations as consumer spending defies inflation worries

Credit card outstanding up 25.6% to Rs 2.57 lakh crore by Mar

YES Bank, ANQ launch co-branded credit cards ‘Pi’ and ‘Phi’ – Know unique features and benefits
Private sector YES Bank has partnered with Bengaluru-based financial services provider ANQ to unveil two credit cards catering to Indian consumers. These two cards are – Pi and Phi co-branded cards.

Does SBI’s new credit card go the extra mile for travellers?
Last week, SBI Card launched a travel-focused credit card. The timing seemed to be just right. It is peak summer, with many people finalizing last minute getaway plans to cooler destinations. Yet, what does SBI Card MILES offer to its users and how does it compare with other such cards? Mint explores.

Street disappointed with SBI Cards & Payment Services' Q4 performance
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24. While it managed to deliver strong earnings growth, it saw a perceptible decline in net interest margin (NIM) and suffered deteriorating asset quality. Taken together, the market was disappointed with the share dropping 3.5 per cent.  The margin contraction was 39 basis points (bps) quarter-on-quarter (Q-o-Q) to 10.9 per cent coupled with poorer asset quality. The gross NPA was up 20 bps Q-o-Q to 2.8 per cent.

Why you need to be smart about credit cards

Cash still remains king as ATM withdrawals spike to Rs 1.43 crore in FY24

NIMs will continue to prevail around the current levels: Abhijit Chakravorty, SBI Card

SBI Cards & Payment Services Q4 Results Live : profit rise by 11.05% YOY
SBI Cards & Payment Services Q4 Results Live : SBI Cards & Payment Services declared their Q4 results on 26 Apr, 2024. The topline increased by 15.57% & the profit increased by 11.05% YoY. As compared to the previous quarter the revenue declined by 5.93% and the profit increased by 20.63%.

New upgradable ATMs to be introduced soon; details here
Hitachi Payment Services has announced the launch of an upgradable ATM machine in India. These ATMs can be upgraded to a Cash Recycling Machine (CRM) at any time. Manufactured under the ‘Make in India’ initiative, these ATMs offer flexibility and efficiency to banks. Hitachi Payment Services claims that this is the first upgradable ATM in India. 

ATM deployers may get a boost; higher cash withdrawal may cost more

This is part of the recent deliberations between the Confederation of ATM Industry (Catmi) and the Reserve Bank of India (RBI). It comes amid fresh orders for ATMs and cash recycling machines hitting 45,000 between September 2023 and March 2024.   The figure is nearly a sixfold increase over the preceding comparable period. This is also more than the 225,000 ATMs set up between Demonetisation in November 2016 and the current tally of 260,000.

SBI Cards logs profit of Rs 662 crore in Q4
SBI Cards and Payment Services saw its net profit rise 11% year-on-year(y-o-y) to Rs 662 crore in the January-March quarter due to a growth in receivables. This was around 15% higher than the Rs 578 crore Bloomberg consensus estimate.

ICICI Bank blocks 17,000 credit cards after data breach
Mumbai: ICICI Bank has blocked 17,000 credit cards after a technical glitch in its mobile banking application ‘iMobile’ led users to complain about being able to view other customers’ card details, including co-branded cards.