by Suman Gupta
Mumbai, September 2023: SBI Card, India’s largest pure-play credit card issuer, today launched ‘SimplySAVE Merchant SBI Card’, a credit card aimed at micro, small and medium enterprises (MSME). The card has been designed to cater to short-term credit requirements of MSME merchants while also offering them various exclusive benefits. SimplySAVE Merchant SBI Card was unveiled by Mr. Dinesh Khara, Chairman, State Bank of India at Global Fintech Fest in Mumbai.
Sharing his views during the launch, Mr. Dinesh Khara, Chairman, State Bank of India said, “MSMEs contribute significantly towards economic growth and job generation. Therefore, it is important to empower them, especially by ensuring easier and timely access to formal credit. The launch of SimplySAVE Merchant SBI Card is an attempt to address this larger segment by extending interest-free short-term credit to MSME.”
According to Mr. Abhijit Chakravorty, MD & CEO, SBI Card, “At SBI Card, our continued efforts have been to create tailored payments solutions that cater to the specific needs of varied customer segments. Our deeper understanding of our cardholders’ lifestyle and spending requirements has equipped us well in designing such specialized products. In line, we are delighted to launch this card for MSME entrepreneurs.”
SimplySAVE Merchant SBI Card is available on RuPay network and can also be linked to UPI for payments through various UPI-enabled third-party apps.
About SBI Card : SBI Cards and Payment Services Limited (“SBI Card”) is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders’ segments in terms of income profile and lifestyle. The brand has a wide base of over 17 MM+ cards in force as of Q1 FY24. It has diversified customer acquisition network that enables to engage prospective customers across multiple channels. SBI Card is a technology driven company.
The Company is listed on National Stock Exchange (“NSE”) and The Bombay Stock Exchange (“BSE”).
