SBI-PhonePe Credit Card: A new co-branded credit card from SBI Card and PhonePe has opened a new horizon in the expansion of digital payments in India. Launched on July 22, 2025, this card promises to provide customers with more convenience and rewards on their daily purchases. The main goal of this partnership is to make digital transactions more accessible and to increase the use of credit cards in every corner of the country.
This new credit card is available in two variants – ‘PhonePe SBI Card PURPLE’ and ‘PhonePe SBI Card SELECT BLACK’. Both cards will operate on both RuPay and VISA networks, giving customers the freedom to choose the network according to their preference. Through these cards, attractive reward points can be earned on various types of transactions made using the PhonePe app, such as grocery shopping, bill payments, travel bookings, and insurance premium payments.
Card Variants and Benefits:
- PhonePe SBI Card SELECT BLACK: Users of this premium variant card will get up to 10% value back as reward points on their spending through the PhonePe app. Up to 5% value back will be available on other online shopping. Upon getting this card, customers will receive a PhonePe e-voucher of Rs 1,500. An annual spend of Rs 5 lakh will also earn a travel voucher of Rs 5,000. Additionally, this card offers benefits like airport lounge access and Priority Pass membership.
- PhonePe SBI Card PURPLE: This variant of the card will offer 3% reward points on spending through the PhonePe app and 2% on other online shopping. With this card, a PhonePe voucher of Rs 500 will be available. An annual spend of Rs 3 lakh will also get a travel voucher of Rs 3,000.
Both cards come with a 1% fuel surcharge waiver. The RuPay network cards can be linked with UPI, which will provide the opportunity for transactions at millions of UPI merchants across the country. On the other hand, the VISA variant can be tokenized on PhonePe and used securely at various online merchants.
The application process is also very simple. Customers can apply for this card digitally through the PhonePe app and can also manage their bill payments. Salila Pande, MD & CEO, SBI Card, said that this partnership will further enhance the growing popularity of digital payments. Sameer Nigam, Co-founder & CEO at PhonePe, said that this initiative is part of their commitment to making financial services more accessible.
