Key Points of Collaboration:
- City Union Bank (CUB) has launched its first credit card, the Dhi CUB Visa Signature Credit Card, in partnership with 42 Card Solutions Pvt Ltd (42 CS), to expand its product range and provide enhanced services to customers.
- CUB has partnered with 42 CS to provide end-to-end credit card processing services using Pismo’s cloud-native card management system, initially issuing credit cards to employees with plans to have 30,000 active cards by the end of March 2023.
- Existing CUB customers will receive priority for the Dhi CUB Visa Signature Credit Card, which can be applied for quickly and easily through the CUB mobile app.
- The launch of the Dhi CUB Visa Signature Credit Card marks CUB’s entry into the credit card market, with Managing Director and CEO Dr. N Kamakodi anticipating the program will benefit over 500,000 customers and further cement CUB’s position as a leading private sector bank in India.
- 42 CS’s card management system enables banks to introduce credit card programs seamlessly and run multiple card programs, with plans to integrate the Dhi CUB Visa Signature Credit Card into the Visa Platinum network and the Unified Payments Interface (UPI) platform for greater flexibility and convenience.
- The Dhi CUB Visa Signature Credit Card offers an industry-best 1.25% cashback on all eligible spends, a unique flex control option for users to manage their spending, and a range of exclusive offers, deals, and experiences through the Visa card.
- CUB is providing its credit card customers with a free CUB Keychain Debit Card for added convenience and ease of payment for ‘tap & go’ purchases.
Details of Collabaration:
City Union Bank (CUB), a top private sector bank in India, has introduced its maiden credit card – the Dhi CUB Visa Signature Credit Card – in partnership with 42 Card Solutions Pvt Ltd (42 CS), a credit card-as-a-service provider. This move is in line with CUB’s commitment to enhancing its product range and providing top-notch services to its customers. Starting February 2023, customers can benefit from this new credit card as part of CUB’s portfolio offerings. Get ready to experience unmatched convenience, rewards, and privileges with the Dhi CUB Visa Signature Credit Card.
City Union Bank (CUB) has partnered with 42 Card Solutions Pvt Ltd (42 CS) to provide end-to-end credit card processing services using Pismo’s all-in-one, cloud-native card management system. As part of the trial run, the bank has initially issued credit cards to its employees and plans to have around 30,000 active cards by the end of March 2023. Existing CUB customers will be given priority to avail of the new Dhi CUB Visa Signature Credit Card over new-to-credit customers. Customers can easily apply for the credit card through the CUB mobile app, making the process quick and hassle-free. Experience the benefits of this new credit card with unparalleled convenience, rewards, and privileges!
Dr. N Kamakodi, Managing Director and CEO of City Union Bank, expressed his enthusiasm at the launch of the Dhi CUB Visa Signature Credit Card, marking CUB’s entry into the credit card market. With the bank’s unwavering commitment to providing the best offerings to its customers, Dr. Kamakodi believes that the new product will benefit many customers in the long run. Thanks to the end-to-end credit card processing capabilities and cutting-edge technology of 42 CS and Pismo, CUB can now introduce newer payment methods and features to its customers with ease. Dr. Kamakodi anticipates that this new card program will benefit over 500,000 customers, further cementing CUB’s position as a leading private sector bank in India.
GG Srinivas, Co-Founder and CEO of 42 Card Solutions Pvt Ltd., expressed his excitement at serving CUB’s customers with the new Dhi CUB Visa Signature Credit Card. He stated that over 90% of the card transacting population in India lacks access to credit cards, despite the credit card industry being 40 years old. Therefore, 42 CS is delighted to bring its robust and end-to-end card management system, which can help banks introduce credit card programs seamlessly. 42 CS has set up a multi-tenanted card management system for CUB from Pismo, allowing the bank to run multiple card programs. The highly agile software backing the card will enable CUB to swiftly introduce innovative features and speed up new product launches, catering to rapid market changes and customers’ aspirations.
The card service provider, 42CS, has announced that it will soon be launching the Dhi CUB Visa Signature Credit Card on the Visa Platinum network as well. Furthermore, the company is currently in talks with the National Payments Corporation of India (NPCI) to integrate the card into the Unified Payments Interface (UPI) platform. This integration will enable customers to make payments in areas where a card-acquiring network is not available, providing them with greater flexibility and convenience. Stay tuned for more updates on this exciting new development.
The Dhi CUB Visa Signature Credit Card offers customers an industry-best 1.25% cashback on all eligible spends, a feature typically reserved for high-end credit cards. Additionally, the card boasts a unique flex control option, empowering users to actively control and manage their spending while maintaining a high level of safety. CUB customers can also enjoy a wide range of exclusive offers, deals, and experiences on entertainment, travel, food, and shopping through the Visa card, including a fuel surcharge waiver for all eligible purchases. To enhance convenience and ease of payment for ‘tap & go’ purchases, the bank is providing its credit card customers with a free CUB Keychain Debit Card.
About City Union Bank:
City Union Bank operates as a banking company, with its business divided into several segments. These segments include Treasury, Corporate and Wholesale Banking, Retail Banking, and Other Banking Operations.
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