SBI Cards & Payment Services Ltd., previously known as SBI Cards & Payment Services Private Limited, is a pure play

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

company and payment solutions provider in

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

. SBI Card was launched in October 1998 by

State Bank of India State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 49th largest bank in the world by total assets and ranked 221st in the ''Fortune ...

, India's largest bank, and

GE Capital GE Capital is the financial services division of General Electric. The company currently only runs one division, GE Energy Financial Services. It had provided additional services in the past; however, those units were sold between 2013 and 2018. ...

. In December 2017, State Bank of India and

The Carlyle Group The Carlyle Group is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and ...

acquired GE Capital's stake in the company. SBI Card is headquartered in

Gurugram Gurgaon (pronunciation: �ʊɽɡãːw, officially named Gurugram (pronunciation: �ʊɾʊɡɾaːm, is a city located in the northern Indian state of Haryana. It is situated near the Delhi–Haryana border, about southwest of the nationa ...

Haryana Haryana (; ) is an Indian state located in the northern part of the country. It was carved out of the former state of East Punjab on 1 Nov 1966 on a linguistic basis. It is ranked 21st in terms of area, with less than 1.4% () of India's land ar ...

Delhi NCR The National Capital Region (NCR) is a planning region centred upon the National Capital Territory (NCT) of Delhi in India. It encompasses Delhi and several districts surrounding it from the states of Haryana, Uttar Pradesh and Rajasthan. The N ...

and have branches in over 100 cities across India. The company is the only publicly listed pure-play credit card issuer in India.

Shareholding

held 60% share in SBI Cards & Payment Services Limited (SBICPSL) and 40% share in GE Capital Business Processes Management Services Limited (GECBPMSL).

held 60% in GE Capital Business Processes Management Services Limited and 40% in SBI Cards & Payment Services Limited. In 2017, GE Capital exited its JV with State Bank of India as a part of its global strategy to exit financial services sector. Following this development, State Bank of India increased its share to 74% and

invested 26% in both the entities while replacing

. SBI Card is now a listed company on

BSE BSE may refer to: Medicine * Bovine spongiform encephalopathy, also known as mad cow disease, a neurodegenerative disease of cattle * Breast self-examination Stock exchanges * Bahrain Stock Exchange, Bahrain * Baku Stock Exchange, Azerbaijan * B ...

and NSE stock exchanges.

New brand identity

In February 2019, SBI Card unveiled new brand identity designed to appeal to the millennial generation. The redefined identity reflects the brand's contemporary and youth-focused outlook and its endeavour to build a stronger connect with millennial consumers. As part of the brand makeover, SBI Card also unveiled its new logo. The logo retains the blue keyhole and SBI wordmark for while the styling for the word ‘Card’ has been changed to a different typeface.

Milestones

*1998: SBI Card enters the credit card space *1999: Reaches the ‘100,000’ mark within 10 months of launch *2002: SBI Card reaches the 1,000,000 mark *2002: First partnership with a public sector bank *2003: SBI Card launches 8 Cities Affinity Cards with special tie-ups and offers *2005: The 2 Million Cards Milestone reached *2006: SBI Card launches SBI Railway Card for Indian Railway travellers *2006: The launch of co-brand cards, SBI Spicejet Card and TATA Cards, India's first loyalty cum credit card *2006: SBI Card becomes the second largest credit card issuer, with 3 million cards issued *2010: SBI Platinum Card launched *2011: Launches chip-based EMV Cards *2012: Launches SBI Signature Card for HNIs *2013: SBI Card launches the Air India SBI Signature Card and the Air India SBI Platinum Card *2014: Launch of fbb SBI STYLEUP Card *2014: SBI Card reaches the 3,000,000 milestone for issued cards *2015: Launch of SimplySAVE and SimplyCLICK SBI Card *2016: Launch of SBI Card ELITE *2016: SBI Card reaches the 4,000,000 milestone with issued cards *2017: Launch of Central SBI Card. SBI Card Unnati, Tata Star Card and BPCL SBI Card *2017: SBI Card reaches the 5,000,000 milestone with issued cards *2018: Launch of Doctor's SBI Card and Apollo SBI Card *2018: SBI Card reaches the 6,000,000 milestone for issued cards *2019: Launch of SME Business Card, OLA Money SBI Credit Card, Etihad Guest SBI Card and Allahabad Bank SBI Card *2019: SBI Card reaches the 8,000,000 milestone for issued cards *2019: SBI Card reaches the 9,000,000 milestone for issued cards *2020: In February 2020, SBI card offered the biggest

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

of 2020 *2020: SBI Card launches Lifestyle HC SBI Card, Max SBI Card and Spar SBI Card with Landmark Group *2020: SBI Card launches

IRCTC Indian Railway Catering and Tourism Corporation (IRCTC) is an Indian public sector undertaking that provides ticketing, catering, and tourism services for the Indian Railways. It was initially wholly owned by the Government of India and operated ...

SBI Contactless Credit Card on RuPay platform *2020: SBI Card partners Google, enables cardholders to make payments using Google Pay *2020: SBI Card partners with DMRC to launch contactless Delhi Metro SBI Card *2020: SBI Card partners with Paytm to launch contactless Paytm SBI Card *2020: SBI Card launches BPCL SBI Card OCTANE *2021: Fabindia SBI Card SELECT and Fabindia SBI Card launched *2021: SBI Card reaches the milestone for 12,000,000 issued cards

Awards

Reader's Digest ''Reader's Digest'' is an American general-interest family magazine, published ten times a year. Formerly based in Chappaqua, New York, it is now headquartered in midtown Manhattan. The magazine was founded in 1922 by DeWitt Wallace and his wi ...

'Most Trusted Brand Gold Award' (2008, 2009, 2010, 2012, 2013) *Rated #2 in

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...

Consumer Awards 2 years in a row (2007–2009) *Winner of Best Mature Captive Delivery Unit in Asia (2009) *

‘Most Trusted Brand Gold Award' (2008) *Rated #2 in Business World Survey on Customer Satisfaction (2007) *‘Most Innovative Technology Legacy Transformation’ award for Card One Customer Relationship Management tool at International Gartner Awards 2016
''NDTV Profit''

References

External links