back Back

BOB Financial partners with OneCard to launch mobile-first credit card

By Leandra Monteiro

November 25, 2021

  • Bank of Baroda
  • BFSL
  • BOB Financial
Share

BOB Financial, BOB BOB Financial Solutions Limited (BFSL) – a wholly owned subsidiary of Bank of Baroda, has partnered with OneCard, to launch co-branded mobile-first credit cards to offer a smart-banking experience to the young, tech-savvy population across the country. The internationally valid credit card will be issued by BFSL and managed by OneCard on VISA’s Signature platform.

Powered by a mobile app, OneCard offers its users complete control of the credit card – spends, rewards, limits, payments and more thus offering an end-to-end digital experience. Built with full-stack tech, this credit card is designed with curated benefits and offers, with a host of other privileges including lifetime validity, zero joining and annual fee, instant virtual card issuance, instant issuance of reward points, and easy redemption among others, within the app.

The card combines the principles of simplicity, transparency and gives customers full control of all the aspects of the credit card through one app. It also has the lowest forex fee in the market at just 1%.

Speaking at the launch, Shailendra Singh, MD & CEO, BOB Financial Solutions Limited said, “BFSL is currently on its transformation journey, investing in technology, processes and people to ensure we offer best-in-class credit cards to our customers under the Bank of Baroda brand.  We are delighted to have OneCard as a partner in our transformation journey. The mobile-first OneCard further bolsters our portfolio of offerings, especially for the young, tech-savvy generation and reinforces our commitment towards unique and differentiated offerings for our customers”

BFSL was established as BOBCARDS in 1994 by Bank of Baroda, to manage the cards business. BFSL issues and manages Bank of Baroda Credit Cards and is committed to becoming one of the largest Credit Card issuers in the country.

On the launch Anurag Sinha, Co-founder & CEO, OneCard said, “The pandemic has brought about a drastic shift in consumer sentiments driving a strong inclination towards easy digital payments solutions. With OneCard, we endeavor to empower our customers with a world-class, mobile-first experience, giving the user absolute control over their credit card. Our collaboration with BFSL is a huge stride in our vision to re-imagine credit and payments in India while addressing consumer need gaps.”

Sujai Raina, Head – Business Development, India, Visa said, “At Visa, we are delighted to power the partnership between BOB Financial Solutions Limited and OneCard for this unique proposition that sets new standards for seamless customer onboarding and transaction experience. As India increasingly transacts using digital credentials, it is imperative to provide wider, more accessible credit options. With the strength of our solutions and the trust in our brand, we are proud to work with partners and create novel, innovative experiences for their consumers.”

Previous Article

November 25, 2021

Ellipse introduces EVC All-In-One for e-commerce

Read More
Next Article

November 25, 2021

Usio announces closing of $1m Investment by cryptocurrency partner, Voyager Digital

Read More

IBSi Prime News

The Weekly Wrap

November 26, 2021

Bank of Baroda

The Weekly Wrap: all you need to know by Friday COB | Nov 26th

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 26, 2021

Black Friday 2021: 3 Risks of Buy Now, Pay Later Apps this holiday season

Read More

November 26, 2021

Thunes partners with Ethiopia’s Ethio Telecom to power cross-border transfers

Read More

November 26, 2021

Lifeist Wellness to sell certain intellectual property assets to Spinach Pay

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
US Financial Services Technology Report 2021

£1,500 / year

Know More
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More