|Non-banking financial company|
|Hardayal Prasad, CEO|
|Services||Credit Cards, Payments|
Number of employees
|Parent||State Bank of India and The Carlyle Group|
SBI Cards & Payments Services Ltd., previously known as SBI Cards and Payment Services Private Limited, is a payment solutions provider in India. SBI Card was launched in October 1998 by the State Bank of India, India's largest bank, and GE Capital. In December 2017, State Bank of India and The Carlyle Group. acquired GE Capital`s stake in the Company. SBI Card is headquartered in Gurgaon, Haryana/Delhi NCR and have branches in over 100 cities across India. For the financial year ending March 31, 2016, SBI Card recorded a net profit of ₹271 crore and a profit before tax of about ₹438 crore.
State Bank of India held 60% share in SBI Cards & Payment Services Limited (SBICPSL) and 40% share in GE Capital Business Processes Management Services Limited GECBPMSL. GE Capital 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 The Carlyle Group invested 26% in both the entities while replacing GE Capital. SBI Card is now in the process of merging both the entities into one.
SBI Credit Card Portfolio
SBI Card has a wide portfolio catering to both individual and corporate customers. It offers variety of cards across consumer segments that include:
- Premium Cards - SBI Card Elite, SBI Card PRIME, Doctor’s SBI Card
- Classic Cards - SimplySAVE SBI Card
- Industry first initiatives- SimplyCLICK SBI Card, SBI Card Unnati
- Corporate cards - SBI Signature Corporate Card, SBI Platinum Corporate Card
- Co-branded cards – Ola Money SBI Card, Etihad Guest SBI Card, Apollo SBI Card, BPCL SBI Card, IRCTC SBI Card, TATA Cards, Yatra SBI Card, fbb SBI STYLEUP Card, Air India SBI Card, Mumbai Metro SBI Card, Capital First SBI Card 
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 more approachable typeface.
- 1998: SBI Card enters the credit card space
- 1999: Reaches the ‘1 Lakh’ mark within 10 months of launch
- 2002: SBI Card enters the ’1 Million Cards’ club
- 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 crossed
- 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
- 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 enters the ‘3 Million Cards’ club
- 2015: Launch of SimplySAVE and SimplyCLICK SBI Card
- 2016: Launch of SBI Card ELITE
- 2016: SBI Card enters the ‘4 Million Cards’ club
- 2017: Launch of Central SBI Card. SBI Card Unnati, Tata Star Card and BPCL SBI Card
- 2017: SBI Card enters the ‘5 Million Cards’ club
- 2018: Launch of Doctor’s SBI Card and Apollo SBI Card
- 2018: SBI Card enters the ‘6 Million Cards’ club
- 2019: Launch of SME Business Card, OLA Money SBI Credit Card, Etihad Guest SBI Card and Allahabad Bank SBI Card
- 2019: SBI Card enters the ‘8 Million Cards’ club
- 2019: SBI Card enters the ‘9 Million Cards’ club
- Reader’s Digest 'Most Trusted Brand Gold Award' (2008, 2009, 2010, 2012, 2013)
- Rated #2 in CNBC Consumer Awards 2 years in a row (2007–2009)
- Winner of Best Mature Captive Delivery Unit in Asia (2009)
- Reader’s Digest ‘Most Trusted Brand Gold Award' (2008)
- Rated #2 in Business World Survey on Customer Satisfaction (2007)
- Best Data Quality Award at 10th TransUnion CIBIL Credit Information conference
- ‘Excellence in Customer Service’ award by Asia BPO Summit, 2012-13
- ‘Excellence in Customer Service’ at the Asia Outsourcing Excellence Awards organized by CMO Asia, 2014.
- ‘Best Credit Card Program’ for SimplyCLICK SBI Card at the MasterCard Innovation Awards 2016
- ‘Best Issuing Institution across India & South Asia’ 2012, for fraud management by Visa Inc.
- ‘Most Innovative Technology Legacy Transformation’ award for Card One Customer Relationship Management tool at International Gartner Awards 2016
- ‘Best use of Social Media in Marketing’ at 4th CMO Asia Award
- ‘Excellent Compliance Performer’ at Annual Compliance 10/10 awards, 2016
- ‘Best Loyalty Program in Non- Banking Financial Sector’ at the Loyalty Summit, Customer FEST Show, 2016
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- " NDTV Profit