City Union Bank rolls out credit card in tie-up with 42 Card Solutions

City Union Bank has launched its first credit card, the Dhi CUB Visa Signature Credit Card, in collaboration with credit card provider 42 Card Solutions.

The private bank is initially issuing cards to its employees on a pilot basis, and plans to have around 30,000 active cards by the end of March 2023. Existing customers will have priority in issuing credit cards.

Customers can apply for a card by logging into the bank’s mobile app, and can get 1.25 percent cash back on eligible purchases. The bank will also offer a free CUB Keychain Debit Card to its credit card customers.

“Powered by the end-to-end credit card processing capabilities and technology of 42 CS and Pismo, we are now able to introduce newer payment methods and features to our customers with ease,” said MD and CEO Dr N Kamakodi, adding that he expect the new card program to benefit more than 5 lakh customers.

42 Card Solutions will manage end-to-end credit card processing services for City Union Bank through a cloud-native card management system from Brazilian technology company Pismo.

The company will soon launch the card on the Visa Platinum network, and is in discussions with the National Payments Corporation of India (NPCI) to integrate the card into its Unified Payment Interface (UPI) platform.