Credit: Free stock photos from www.rupixen.com from Pixabay.

State-owned lender Union Bank of India has launched a co-branded contactless RuPay credit card with oil and gas company Hindustan Petroleum (HPCL).

The card was launched at a virtual event attended by several officials.

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This is the first co-branded card to be rolled out with National Common Mobility Card (NCMC) feature, according to the National Payments Corporation of India (NPCI).

The feature will enable the users to use the credit card for in-transit transactions as well as for retail purchases.

Customers can procure the RuPay credit card by paying a nominal fee. It comes with several benefits including a welcome bonus of INR300.  The money can be used to purchase fuel at any HPCL retail outlet within 60 days of card activation.

Additionally, the users will receive 16X reward points on fuel purchases worth INR500 and above at HPCL outlets.

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The 1% fuel surcharge will also be waived off for such transactions.

They will also receive an additional 1.5% reward points from HPCL if the payment is made through HP Pay wallet.

All non-fuel purchases will carry 2X reward points.

Union Bank of India MD and CEO Raj Kiran G. said: “We are happy to announce that we are launching the Union Bank HPCL Co-branded credit card on the RuPay platform. Our partnership with HPCL – one of the leading players in fuel retail segment– and RuPay – India’s global card payment network, provides us an opportunity to work together to create value for our customers.”

Headquartered in Mumbai, Union Bank of India has more than 120 million customers and a total business of $106bn.