India-based private sector lender IndusInd Bank has forged a partnership with payments giant Mastercard to launch its first metal credit card.
Dubbed ‘PIONEER Heritage’, the new card has been created for wealthy customers of the bank.
It has been tailor made to cater to the needs of affluent Indian professionals and entrepreneurs.
The PIONEER Heritage credit card comes with zero fee on late payments and a reward programme, according to the bank’s website.
For every INR100 ($1.36) spent, cardholders get 2.5x reward points on international transactions and 1x point on domestic transactions.
Cardholders do not have to pay an annual fee if they meet the minimum spending criteria of INR1m ($13,616) or more.
They can redeem the reward points on the IndusMoments website, convert them into Air Miles on partner airlines, or get cash credits of INR1 for each reward point.
Other benefits include free cash advancement or withdrawal facility, low foreign currency mark-up of 1.8%, round the clock concierge service, a complimentary ITC Club Culinaire membership, and more.
IndusInd Bank head of affluent banking Samir Dewan said: “With the launch of the PIONEER Heritage Credit Card, we are strengthening as well as broadening our card proposition for the PIONEER banking customers, providing them access to world class services by leveraging on our wide network and relationships.
“We believe, the new credit card is a compelling proposition that offers best-in-class privileges and indulgences across travel, wellness, lifestyle and luxury categories, thereby offering our wealth customers with an unmatched banking experience.”
The new metal credit card is also part of Mastercard’s ‘World Elite’ platform.
The platform provides high net-worth individual (HNI) cardholders with the choicest benefits across their passion points.
Mastercard South Asia VP of product and innovation Aman Ahuja said: “Mastercard is pleased to partner with IndusInd Bank for the launch of our very first metal credit card ‘PIONEER Heritage’.
“This metal credit card is specially designed to offer Priceless moments to the ultra-high net worth segment of customers to meet their diverse preferences with meticulously customised offerings.
“This card offers a combination of niche banking solutions and carefully curated lifestyle privileges.”