Yatra.com and Barclays have joined hands to launch a co-branded Yatra Barclaycard that will feature the Yatra Miles programme, along with a host of other consumer benefits. The Yatra Barclaycard is claimed to be India’s first online travel co-branded credit card and the only multi-carrier frequent flier programme.
Dhruv Shringi, CEO and Co-founder, Yatra Online, said, “The Indian travel market is flourishing, but the needs of the Indian traveller are under-served. The Yatra-Barclays alliance will play a significant role in strengthening our commitment to make travelling not just enjoyable, but also smart, simple and advantageous for our customers. The card offers attractive travel benefits and rewards, and is tailor-made to keep pace with the rapidly growing demands of frequent business and leisure travelers in India.”
Samir Bhatia, MD, India and Indian Ocean, Barclays Bank PLC, said, “Indian customers are looking for competitive, innovative, clear products, and Barclays is well positioned to serve them.”
Kusal Roy, Head of Cards-India, Barclays Bank PLC, added, “We are delighted to add the Yatra Barclaycard to our range of cards especially targetted at Indian travellers who are increasingly using online travel services without having their spend rewarded.”
Currently, Yatra.com is posting average revenue of $12 million a month, with a volume of 5,000 tickets and 300 room nights a day. The company projects a turnover of over $100 million by the end of 2007. Meanwhile, Barclays has been in India for close to three decades, more recently through Barclays Capital, a leading investment bank. It has launched its global retail and commercial banking division over the past year, with a variety of products and services targetted at the cross section of India customers.