POP Launches India’s First Multi-Brand Co-Branded Card with RuPay & Yes Bank
POP, a fintech startup founded by former Flipkart employees, has introduced India’s first multi-brand co-branded credit card in partnership with RuPay and Yes Bank. This innovative card, known as the YEB BANK POP-CLUB RuPay credit card, integrates major brands like Zomato, Blinkit, Cult, Rapido, Cleartrip, and Pharmeasy to address key daily spending areas, including e-commerce, groceries, food and beverages, travel, and health and fitness.
Cardholders earn POPcoins on every transaction, with enhanced rewards when using the card with POP UPI. The earning rate is 10% POPcoins on online transactions, 2% on offline transactions, and an additional 5% for POP UPI transactions. POPcoins can be redeemed within the POP app for products across various categories such as beauty, electronics, fashion, and home goods. Additionally, POPcoins can be used for purchases with the partner brands.
The card has no joining fee and offers an exclusive set of benefits valued at ₹5,000. This includes 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.
Since launching its UPI + e-commerce app platform in June 2024, POP has seen significant adoption, surpassing one million UPI transactions within two months. The new credit card aims to leverage this growth, enhancing the value proposition for users by integrating with the expanding RuPay network.
Introduction: RuPay is an Indian domestic card scheme launched by the National Payments Corporation of India (NPCI) in 2012.
Objective: To provide a cost-effective payment solution for Indian consumers and reduce dependency on international card networks like Visa and MasterCard.
Coverage: Used for debit, credit, and prepaid cards; accepted across ATMs, POS terminals, and online payments in India.
Features: Supports domestic and international transactions; offers benefits such as lower transaction costs and enhanced security.
Partnerships: Collaborates with various banks and financial institutions in India, and has started expanding internationally.
UPI Integration: Works in conjunction with the Unified Payments Interface (UPI) for seamless digital transactions.
Government Support: Promoted by the Indian government to encourage digital payments and financial inclusion.
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