CHENNAI: Private sector City Union Bank (CUB) on Tuesday announced rolling out of its first-ever credit card, the Dhi CUB Visa Signature Credit Card. It is launched in partnership with credit cards-as-a-service provider 42 Card Solutions Pvt Ltd (42 CS), as part of its portfolio offerings for its customers.
Read More: TCS becomes top employer in UAE and Saudi Arabia, 42% local hires are women
A statement here said 42 CS would manage the end-to-end credit card processing services for CUB by leveraging an all-in-one cloud-native card management system from Brazilian technology company, Pismo. The bank has initially issued credit cards to its employees as part of the trial run and plans to have around 30,000 active cards by the end of March, 2023. The first priority to avail the new credit card would be given to CUB’s existing customers over new-to-credit customers.
N Kamakodi, managing director and CEO of CUB, said, “With our focus on providing the best offerings for our customers, we believe that this new product in the bank’s portfolio will benefit many customers in the long run. We expect this new card programme to benefit roughly over 5,00,000 customers.”
Read More: India’s Credit Card Outstanding At Rs 1.87 lakh Cr In January; HDFC Bank Top Card Issuer
GG Srinivas, co-founder and CEO, 42 Card Solutions Pvt Ltd, said, “We have set up a multi-tenanted card management system for CUB from Pismo, on which we can run multiple card programmes.”
The statement further said CUB customers can also access a wide range of offers, deals, and experiences on entertainment, travel, food, and shopping through the Visa card. The offers include a fuel surcharge waiver for all eligible purchases.
