Indian Bank and OneCard launch the Indian Bank One co-branded credit card
Indian Bank partnered FPL Technologies, the company behind OneCard, on a Visa and RuPay credit card run entirely from the OneCard app, with a 1% forex fee against the usual 3.5%.
What changed
- Indian Bank and OneCard launch the Indian Bank One co-branded credit card Better for you · Launch · Indian Bank / OneCard
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Indian Bank announced on 11 January 2024 that it had teamed up with FPL Technologies, the fintech behind OneCard, on the Indian Bank One credit card, issued on both Visa and RuPay.
What the bank’s release says.
- The card is run entirely from the OneCard app.
- Forex is 1%, well under the 3.5% most Indian cards charge. That one number is the reason a traveller should care.
Why it matters. Indian Bank’s own cards are plain cashback products, and the MITC for its RuPay Select doesn’t price overseas use at all. The OneCard tie-up gave a public-sector bank’s customers a low-markup app card instead. It is the same 1% forex pitch as OneCard Metal, on Indian Bank’s balance sheet.
What we don’t carry yet. The release does not print the card’s fees, reward rate or lounge terms, and we have not read a fee schedule for it, so the card has no page of its own here. We will add one when Indian Bank or OneCard publishes the terms.
Source: Indian Bank’s launch press release.
Sources
- The story’s source: indianbank.in
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