PhonePe SBI SELECT BLACK cuts UPI rewards outside app
PhonePe SBI SELECT BLACK stops paying Reward Points on UPI transactions outside the PhonePe app, effective 1 Jul 2026. This change affects all Scan & Pay and online UPI transactions made outside the PhonePe app.
SBI Card has updated the rewards program for PhonePe SBI SELECT BLACK, effective 1 Jul 2026. The card will no longer accrue Reward Points on Scan & Pay and online UPI transactions made outside the PhonePe app. Only Scan & Pay transactions made inside the PhonePe app will continue to earn 1% value back. The change is significant because Reward Points on this card are redeemed as statement credit with no redemption fee, making each point equivalent to ₹1. The card still earns points on other spend categories, including 10 points per ₹100 on PhonePe recharges, utilities, bills, insurance, and travel, capped at 1,500 a month. Our take: If you use PhonePe SBI SELECT BLACK for UPI transactions outside the PhonePe app, consider alternative spend avenues to maximize your rewards. The card’s rewards program still offers value on other spend categories, but the loss of UPI rewards outside the app is a notable change. Review your spend behavior and adjust your card usage accordingly to minimize the impact of this change.