POP unveils co-branded card in partnership with RuPay & Yes Bank

By Gloria Methri

FinTech start-up POP has launched India’s first multi-brand co-branded credit card in collaboration with RuPay and Yes Bank. This launch coincides with POP surpassing 1 million UPI transactions and aims to leverage the  RuPay network to make credit on UPI easier for its users.

The ‘YEB BANK POP-CLUB RuPay Credit Card‘ was launched at the Global Fintech Festival (GFF) in the presence of Nalin Bansal- Chief of Corporate and FinTech Relationships at NPCI, and Amit Sinha- Head of credit card sales and partnerships at Yes Bank.

As India’s first multi-brand co-branded card, it brings together top brands such as Zomato, Blinkit, Cult, Rapido, Cleartrip, and Pharmeasy, covering key daily expenditure categories like e-commerce, groceries, F&B, travel, and health & fitness. POP aims to create a relevant value proposition with these marquee brands while leveraging the growing UPI and RuPay networks.

Cardholders can earn rewards on every transaction through POPcoins. RuPay card holders benefit from accelerated POPcoins earnings when using the card with POP UPI. POPcoins can be redeemed for a wide range of products from significant direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods—all available within the POP app. Additionally, POPcoins can be used for purchases on Zomato, Blinkit, Cult, Rapido, Cleartrip, and Pharmeasy.

The card offers an attractive rewards structure, with users earning 10% POPcoins on all online transactions, 2% POPcoins on offline transactions, and an additional 5% POPcoins upon using the card with POP UPI. The card has no joining fee and comes with an exclusive set of joining benefits worth ₹5,000, including 500 bonus POPcoins, a six-month Pharmeasy Plus membership, a ₹750 Cleartrip Flight Voucher, a ₹500 Cult Voucher, a three-month Zomato Gold Membership, and a Rapido Ride Pass.

“We initiated a waitlist during the pre-launch phase alongside the launch of POP UPI. The response was overwhelming, with 32,000 customers waitlisting for the card—an impressive feat achieved without any marketing push. This strong initial interest reflects the market’s readiness,” said Bhargav Errangi, Founder of POP. Errangi, a former Flipkart Senior Director, has a track record of scaling Flipkart’s Shopsy and Flipkart Supercoins.

In June 2024, POP launched its UPI + e-commerce app platform, where users can earn POPcoins on each UPI transaction. Within just two months, POP surpassed a monthly UPI transaction rate of 1 million.