The Union Bank of India and Maharatna Central Public sector enterprise Hindustan Petroleum Corporation Limited (HPCL) have launched co-branded contactless Rupay credit card. The users of this card will get 16X reward points which would be equivalent to 4% cashback, on fuels spends worth Rs. 500 and above over 18,000 HPCL stations across the country. Customers will also receive additional 1.5% reward points from HPCL if they pay for fuel from HPCL’s own wallet and additional benefit of 1% fuel surcharge waiver for fuel transactions at HPCL retail outlets.
This is the first time a co-branded RuPay credit card is being launched with National Common Mobility Card (NCMC) feature which will enable contactless transactions in-transit for travel by metro, bus, taxi, tolls, FASTags recharge, parking and for retail purchases. A single card can be used for payments for all requirements thereby avoiding the need to have multiple cards. The UBI-HPCL contactless card users will also receive a welcome bonus of Rs. 300 which can be used to purchase fuel at any HPCL retail outlet within 60 days of card activation. Additionally if customers spend Rs. 5000 in the first month of card activation, they are entitled for a card Activation bonus in the form of shopping voucher from a reputed bank.
How can you get it?
The card comes with a nominal joining fee. UBI-HPCL contactless card offers multiple benefits and offers in the Non-fuel category as well which includes, entertainment, lifestyle, travel, shopping, food delivery, and the likes. The card rewards customers for all their non-fuel purchases with 2X reward points. Additionally, on spending Rs. 1.25Lac or above in a year for Non-fuel purchases the users will get incremental milestone reward of 500 points and additional 100 points on Rs. 25,000 spend thereafter. For every purchase worth Rs. 50,000 beyond Rs. 2 lakh for non-fuel purchases, customers will receive an additional 1000 reward points.
About Union Bank of India
Union Bank of India is one of the largest Indian government-owned banks of India with 120+ million customers and a total business of $106 billion. After the amalgamation with Corporation Bank and Andhra Bank, which came into effect on 1 April 2020, the amalgamated entity becomes the fourth largest bank in terms of branch network. UBI now has around 9500 branches after the amalgamation.
About HPCL
Hindustan Petroleum Corporation Limited (HPCL) is a Maharatna Central Public Sector Enterprise (CPSE) and a S&P Platts Top 250 Global Energy Company with a ranking of 55 with Annual Gross sales of Rs. 2,86,250 Crore during financial year 2019-20. HPCL owns and operates Refineries at Mumbai & Visakhapatnam with designed capacities of 7.5 (Million metric tonnes per annum) MMTPA & 8.3 MMTPA respectively. HPCL also owns the largest Lube Refinery in the country at Mumbai for producing Lube Oil Base Stock with a capacity of 428 TMTPA (thousand metric tons per annum).
Do subscribe to our Telegram channel for more resources and discussions on technology law and news. To receive weekly updates, and a massive monthly roundup, don’t forget to subscribe to our Newsletter.
You can also follow us on Instagram, Facebook, LinkedIn, and Twitter for frequent updates and news flashes about #technologylaw.