Mumbai, 24 May 2022: BOB Financial Solutions Limited (BFSL), a wholly-owned subsidiary of Bank of Baroda (BoB) and Hindustan Petroleum Corporation Ltd. (HPCL) – a Maharatna Central Public Sector Enterprise in partnership with National Payments Corporation of India (NPCI), have announced the launch of HPCL BoB co-branded contactless RuPay Credit Card. The card is designed to reward customers for spends at HPCL fuel pumps as well as the HP Pay app. It also offers accelerated rewards for spends on utilities, grocery and departmental stores. This card can be used across merchants and ATMs globally through the JCB network.
Cardholders of HPCL BoB RuPay Contactless Credit Card will be able to earn up to 24 reward points (per INR 150 spent) for spends at HPCL fuel pumps and on the HP Pay app. In addition, cardholders will also benefit from 1% Fuel Surcharge Waiver on fuel purchases at HPCL pumps or on HP Pay. Customers who spend INR 5,000 or more within 60 days of card issuance will get 2,000 bonus reward points.
The co-branded credit card will offer 10 reward points (per INR 150 spent) on utilities, grocery and departmental stores and 2 reward points on other categories. The card also offers attractive discount on movie ticket bookings. Cardholders will be entitled to 4 complimentary visits per year at domestic airport lounges.
Speaking at the occasion, Mr. Shailendra Singh, MD & CEO, BFSL said, “The collaboration with HPCL for this co-branded credit card will add more fuel to our growth momentum and help make Bank of Baroda Credit Card as the card of choice for the customer. This fuel card has been thoughtfully constructed around the theme of ‘a Tankful of Happiness’, positioning it as more than just a credit card. We have built an exciting ecosystem of rewards, surcharge waiver, discounts, etc. in related spend categories to further enhance the value proposition of this co-branded credit card.”
Shri Sandeep Maheshwari, HPCL Executive Director – Retail said, “HPCL is elated to partner with Bank of Baroda and NPCI to launch a co-branded Credit Card on the RuPay network. With an aim to offer the best in category service to customers and to make their journey safer, smoother, faster and more rewarding, the card is equipped with a contactless feature where the customer can just tap & pay on the POS terminal, available at 20,000 plus HPCL retail outlets spread across the country, to make fuel purchases. Customers can also enjoy the unique benefits of the card for their fuel and HP Gas purchases made through HP Pay app. The co-branded credit card will further promote the digital payment ecosystem across HPCL retail outlets and help meet the expectations of the modern time with its innovative offerings to the customers.”
Praveena Rai, COO, NPCI said, “We are happy to launch a specialised offering in the form of HPCL BoB co-branded contactless Credit Card on the robust RuPay network. We believe our partnership with HPCL and BFSL will provide a rewarding and delightful fuel and non-fuel transactions experience to the users of this card. We are also confident that this initiative will help strengthen RuPay’s customer base across the country – thanks to its various strategic and attractive benefits in almost all shopping categories.
This card has the potential to act as an empowering agent in taking retail purchases for customers to the next level, and at the same time encourage them to go cash-lite and contactless.”
Mr.Yoshiki Kaneko, President and COO, JCB International Co. Ltd. said, “We are delighted to partner with BFSL and HPCL through our esteemed network partner National Payments Corporation of India (NPCI) to launch this unique proposition. Besides the plethora of domestic benefits, this card has many unique international privileges including special offers at merchants and access to the exclusive JCB in-city lounges across many key travel destinations globally. We are confident the cardmembers will have an excellent and rewarding experience of using this card."
About BOB Financial Solutions Limited:
BOB Financial Solutions Limited was established in the year 1994. It is a Non-Banking Financial Company, wholly owned by Bank of Baroda. The Company’s primary business is in credit cards with its key differentiator being simple, easy-to-understand products that are fairly priced and efficiently serviced. A pioneer in the space of credit cards, BOB Financial offers an array of products catering to all segments of customers. It is leveraging state-of-the-art technology to provide unique payment solutions to its customers.
For more information, visit www.bobfinancial.com
About HPCL:
Hindustan Petroleum Corporation Limited (HPCL) was formed on July 15, 1974. HPCL is a Maharatna Central Public Sector Enterprise (CPSE) and a S&P Platts Top 250 Global Energy Company with a ranking of 26. HPCL enjoys near 18% market share in India and has a strong presence in Refining & Marketing of petroleum products in the country. As far as HPCL’s presence in Retail Fueling is concerned, it has a vast retail marketing network consisting of 7 Zonal offices in major cities and 62 Regional Offices facilitated by a very strong Supply & Distribution with customer touch points constitute of 20,083 Retail Outlets as of April’22. HPCL is committed to conducting business with the mantra of Delivering Happiness, through safety, sustainable growth, and helping the community, night and day.
For more information, visit: https://www.hindustanpetroleum.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/
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