SBI Card was launched in October 1998 by the State Bank of India and GE Capital. Incorporated as SBI Cards and Payment Services Private Limited (SBICPSL), SBI Card is headquartered in Gurgaon, Haryana.
In December 2017, State Bank of India and The Carlyle Group acquired GE Capital’s stake in SBI Card, post which SBI held 74% while Carlyle held 26% in the Company. The legal name of SBI Card was changed on August 20, 2019, from SBI Cards and Payment Services Private Limited to SBI Cards and Payment Services Limited, on account of its conversion from a ‘Private Limited’ company to a ‘Public Limited’ company. In March 2020, SBI Card became the first pure play credit card company to list on the stock exchanges in India. The company is the second largest credit card provider in the country, with huge card base. It also has offices in many cities in India.
Business area of the company
The company is engaged in the business of issuing credit cards to consumers in India. It offers Indian consumers access to a wide range of world-class, value-added payment products and services.
The company’s product portfolio includes premium, classic, travel and shopping, exclusive and corporate cards, to cater to both individual and corporate needs.
2013: Awarded VISA Recognition, ‘Best Issuing Institution’ for excellence in Fraud Risk Management, 2013.
2014: Awarded ‘AISA Outsourcing Excellence Award: Excellence in Customer Service’ as part of CMO Asia Awards 2014.
2015: Awarded ‘Gartner Global Eye on Innovation Award 2015.’
2016: Awarded VISA Recognition ‘Champion Security Award’ South East Asia for Excellence in Fraud Risk Management- 2016.
2017: Awarded ‘Best Data Quality Awards-Consumer Bureau Category- NBFC’, 2017 by Transunion CIBIL.
2018: Awarded ‘Best Loyalty Program in Financial Sector: Non-Banking - 2018’ under Customer Loyalty Awards.
2018: Awarded ‘Corporate Excellence Gold Award for Compliance Innovation’ as a part of SKOCH Summit 2018.
2018: Awarded ‘Learning Innovator Award’ as part of GP Strategies Awards, 2018.
2019: Awarded ‘Best Loyalty Program in Financial Sector: Non-Banking - 2019’ under Customer Loyalty Awards.
2019: Awarded ‘Gold Winner: Customer Service Department of the Year; as part of Golden Bridge Awards, 2019.
2019: Awarded ‘Best Data Quality- Consumer Bureau amongst NBFCs 2019’ as part of Data Quality Awards 2019.
2020: Awarded in the category of ‘Analytics/Big Data’ as part of the DELL Technologies BFSI Technology Conclave, 2020.
1998: SBI Card enters the credit card space
1999: SBI Card reaches the 1 lakh mark
2002: SBI Card enters the ‘1 Million Cards’ club
2002: SBI Card enters into its first partnership with a public sector bank
2003: SBI Card launches Affinity Cards in 8 cities
2005: SBI Card crosses 2 million card base
2006: SBI Card launches co-branded cards with Indian Railways
2006: SBI Card launches co-branded cards with SpiceJet and Tata
2006: SBI Card becomes the second largest credit card issuer
2010: SBI Card launches the SBI Platinum Card
2011: SBI Card launches chip based EMV cards
2012: SBI Card launches SBI Signature Card for HNIs
2013: SBI Card launches Air India co-branded cards
2014: SBI Card launches Fbb SBI ‘STYLEUP’ Card’
2014: SBI Card enters the ‘3 Million Cards’ Club
2015: SBI Card launches the SimplySAVE SBI Card
2015: SBI Card launches SimplyCLICK
2016: SBI Card launches SBI Card ELITE
2016: SBI Card enters the ‘4 Million Cards’ Club
2017: SBI Card launches Central SELECT SBI Cards
2017: SBI Card launches SBI Card PRIME and SBI Card Unnati
2017: SBI Card enters 5 million cards club
2017: SBI Card launches BPCL SBI Card
2018: SBI Card enters 6 million cards club
2018: SBI Card launches Doctor's SBI Card
2018: SBI Card launches virtual assistant ‘ELA’
2018: Apollo SBI Card launched
2018: SBI Card crosses 7 million customer base
2019: Etihad Guest SBI Card launched
2019: Ola Money SBI Card Launched
2019: SBI Card enters 9 million cards club
2019: SBI Card enters into a network partnership with Rupay network
2019: SBI Card launches Club Vistara SBI Card PRIME and Club Vistara SBI Card
2019: SBI Card enters 10 million cards club
2020: SBI Card launches Lifestyle HC SBI Card, Max SBI Card and Spar SBI Card with Landmark Group
2020: SBI Card becomes first pure play credit card issuer to list on BSE and NSE