Experience bespoke luxury now on UPI with the new RuPay BOBCARD ETERNA
Mumbai, 02.09.2024: BOBCARD LIMITED, a wholly owned subsidiary of Bank of Baroda, has introduced the ETERNA Credit Card on RuPay platform, a luxury offering, in partnership with the National Payments Corporation of India (NPCI). The ETERNA credit card launched at the prestigious Global Fintech Festival 2024 combines the convenience of UPI payments with a suite of exclusive benefits, setting a new benchmark in the luxury credit card segment. The ETERNA launch on RuPay network was officiated by Mr. Rajeeth Pillai, Chief, Relationship Management NPCI, and Mr. Ravindra Rai, Whole-Time Director, BOBCARD LIMITED.
In response to the thriving luxury market in India, the ETERNA Credit Card is designed to cater to the needs of a affluent consumer base by offering unparalleled value in dining, travel, retail, and luxury segments. Bain & Company forecasts that India’s luxury sector will grow 3.5 times its present size, reaching between $85 and $90 billion by 2030, fueled by strong economic growth. This growth positions India as the fastest-growing luxury market globally, driving the need for high-end financial products. The ETERNA Credit Card is thus poised to elevate the lifestyle of BOBCARD customers by offering exclusive benefits that match the aspirations of this rapidly expanding affluent segment.
During the launch Mr. Ravindra Rai, Whole-Time Director, remarked, “We are delighted to introduce the ETERNA Credit Card on RuPay network in partnership with NPCI. This launch underscores BOBCARD’s commitment to ‘Reimagine Credit’ by delivering innovative credit solutions that cater to the evolving needs of today’s discerning consumers. The ETERNA Credit Card, with its exceptional rewards and benefits, is set to become the preferred choice for those seeking a superior credit card experience.”
Now, available on the RuPay network for an annual fee of just INR 2,499, the ETERNA cardholders enjoy a range of privileges including accelerated rewards on luxury shopping categories, 1+1 movie ticket every month, activation bonus, spend-based fee waiver & rewards, welcome perk worth ₹15,000, limitless complimentary domestic airport lounge access, and complimentary golf games or lessons. Additionally, the card offers the lowest forex markup in its category and UPI convenience, making it an ideal choice for international travel as well as everyday purchases.
Additional features to enhance the premium experience of the ETERNA Credit Card include comprehensive personal accident insurance, a 1% fuel surcharge waiver, lifetime-free add-on cards, and flexible EMI options. Cardholders also benefit from periodic merchant offers through BOBCARD’s partnerships and NPCI’s extensive network.
About BOBCARD LIMITED:
BOBCARD Limited (Formerly known as BOB Financial Solutions Limited) was established in the year 1994. It is a Non-Banking Financial Company, wholly owned by Bank of Baroda. The Company’s primary business is in credit cards with its key differentiator being simple, easy-to-understand products that are fairly priced, efficiently serviced, and can easily be availed through a digital-all application process. A pioneer in the space of credit cards, BOBCARD Limited offers an array of products catering to all segments of customers including Shopping Cards, Travel Cards, Card for Defense Personnel, Cards for Professionals like ICAI, ICMAI & ICSI, co-branded cards with HPCL, Snapdeal, IRCTC, Premium Lifestyle cards like Eterna, Premier, and more such exciting variants. It is leveraging state-of-the-art technology to provide unique payment solutions to its customers.
For more information, visit www.bobcard.co.in
An introduction to NPCI and its various products
National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The Company is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.
For more information, visit https://www.npci.org.in/
