RBL Bank ties up with Bajaj Finance; Oxigen Wallet; & Wirecard’s subsidiary

Private sector lender, RBL Bank has entered into a slew of tie ups and partnerships essentially to further boost its offering in the highly competitive banking industry in the country.

RBL Bank has collaborated with Bajaj Finance to launch a series of co-branded credit cards for the customers in the country. Credit cards would be offered to the customer by the last quarter of this fiscal.

Coming together of RBL and Bajaj Finance holds importance as the bank can leverage on the wide distribution network of the non-banking finance major to offer credit cards and other allied products. These cards will boast of many customer-friendly features, including no-cost EMI options, easy borrowing rates, digital payment solutions and more.

On the other hand, Bajaj Finance will offer the co-branded cards to its sizeable base of 18 million customers. The co-branded credit cards will be available to both existing and new customers of the NBFC.

In another tie-up, RBL is joining hands with mobile wallet major Oxigen to supply cash to people through micro- ATMs to make withdrawal of cash easier.

RBL Bank had partnered with GI Technology, a Wirecard subsidiary to launch RBL-ICASH co-branded, open loop 'RuPay Prepaid Card'.

Shares of RBL Bank closed at Rs 353.10 up 0.6 per cent on NSE.