RBL Bank and Bajaj Finance End Co-Branded Credit Card Partnership.
Banking & Finance
RBL Bank and Bajaj Finance have mutually decided to end their co-branded credit card partnership, which was initially established in 2016 and renewed in 2021. The decision to cease the issuance of new co-branded cards was driven by a strategic shift towards diversifying origination channels and reducing reliance on a single partner1. RBL Bank had been acquiring fewer cards through this partnership over the past year, moving from 126,000 cards in September 2023 to 37,000 cards in September 2024. Despite the end of the partnership, RBL Bank will continue to service the existing portfolio of approximately 3.4 million co-branded credit cards, ensuring seamless support and customer satisfaction1. Cardholders can continue to use their cards under the same terms and conditions, and upon renewal, the cards will be reissued as RBL Bank-branded credit cards.
- RBL Bank and Bajaj Finance ended their co-branded credit card partnership.
- Partnership initially established in 2016 and renewed in 2021.
Main Point :- (i) Decision driven by strategic shift and reduced reliance on a single partner.
(ii) RBL Bank will continue to service existing 3.4 million co-branded cards.
(iii) Cardholders can continue using their cards under existing terms.
About RBL Bank :
Headquarters: Mumbai, Maharashtra, India
Chairman: Rajeev Ahuja
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