SBI card and Lifestyle International Pvt Ltd have joined hands for a premium retail store card. SBI Card CEO Roopam Asthana said, “The brand building of this card is being done under the Lifestyle branch. The Lifestyle card will enjoy the convenience and financial flexibility of this new premium retail card and at the same time reward customers the advantage of exclusive offers.”
He further said that in addition to the regular features, four reward points would be given on every Rs 100 spent on the Lifestyle card. “We have transaction fee waivers and reward points on IOC and IBP petrol pumps. There is a special discount on Dominoes Pizza and redemption of reward points for air miles on Indian Airlines. There is also a lot of discount offers of 15 per cent on Club Mahindra packages and Radisson Hotels,” Asthana added.
Card users have the option of flexi pay at the rate of 10 per cent as well as free purchase protection against fire and protection up to Rs 12,000 for 90 days.
“We have a dedicated sales team for in store and out store promotions and campaigns. We have executives to promote our card to potential customers,” Asthana said, adding, “Our focus is on metros and cities right now to make this card popular. We are not venturing into semi urban areas. We have a current year-on-year growth rate of 100 per cent.”
Speaking at the launch function, Kabir Laumba, President-Buying and Merchandising, Lifestyle International, said, “This card eliminates the need to have multiple cards as we have designed it to be jam-packed with benefits, offers and rewards coupled with a loyalty rewards programme.”
He further said, “We have currently eight stores in the country. We are planning to expand this to 25 retail stores in the next three years.”