InvestorQ : What is the deal that SBI Cards has struck with American Express Cards?
diksha shah made post

What is the deal that SBI Cards has struck with American Express Cards?

8 months ago

SBI Cards has now tied up with globally acclaimed cards franchise, American Express, to serve its high end customers with value added products. It may be recollected that SBI Cards, a subsidiary of SBI, had recently came out with an IPO earlier this year.

The deal with American Express is intended to offer global benefits and exclusive privileges for Indian consumers owning SBI cards in the creamy layer category. As per the terms of the deal, the SBI Card ELITE and SBI Card PRIME will be available on AMEX global network.

To cut a long story short, cardholders of SBI Elite and SBI Prime will get the added benefits of the massive global network of AMEX including some privileges like Elite Tier membership, complimentary lounge program, access to VIP upgrades, privileges at hotels, restaurants and retail outlets etc.

In addition, this tie-up with AMEX will also offer the SBI cardholders very exclusive pre-ticketing access to marquee events like Wimbledon and US Open. This will be a image booster for the holders of SBI cards in India.

It must be remembered that SBI is already the second largest card network in India after HDFC Bank and it is only marginally behind in numbers. The cards on the AMEX network will also be enabled for contactless transactions and protected online by SafeKey.