Reliance Credit Card: Reliance to enter credit card sector along with SBI
Reliance, owned by Mukesh Ambani, is all set to enter the credit card sector along with SBI, one of the leading banks in the country. A homegrown RuPay network is likely to be used for the joint operation of the two giants.
Reliance, which has expanded its businesses from footwear to petrol, has now announced its entry into the credit card sector. Reliance’s Mukesh Ambani is currently Asia’s No. 1 richest man in the world’s richest list.
Reliance, owned by Mukesh Ambani, is all set to enter the credit card sector along with SBI, one of the leading banks in the country. A homegrown RuPay network is likely to be used for the joint operation of the two giants. The name of this card has not been revealed yet. However, TechCrunch reported that it might be ‘Reliance SBI Cards’.
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Along with getting credit for the purchase of goods, Reliance Credit Card also offers discounts, gifts and special service facilities at Reliance retail outlets. Thus, it is said that more discounts can be expected in Geomart, Azio, Urban Ladder and Trends.
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Credit card purchases in India are more than debit cards. While Rs 53 thousand crore transactions are done through debit cards, Rs 1.33 lakh crore transactions are done through credit cards. In such a situation, market experts are analyzing that Realloys has chosen this sector as an important milestone in the Indian financial sector.
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Reliance Company entered the insurance and lending space through Jio Financial Services. Many have said on the micro-blogging platform ‘X’ that the entry into the credit card sector will lead to a full scale entry into the financial sector. Some have also shared a sample of a credit card on this forum.
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