SBM Bank launches co-branded business credit card
SBM Bank India has partnered with YAP, EnKash and RuPay to launch the SBM EnKash RuPay Business Card in India. This corporate credit card uses the RuPay network and will be available upon issuance through digital and paperless onboarding for small businesses and start-ups from the bank.
YAP is an India-based API platform for banking and payments that has a presence in Asian markets while Enkash is also an India-based B2B payments platform. RuPay is a card platform created by National Payments Corporation of India (NPCI).
“While the small and medium businesses are the backbone of the Indian economy, liquidity and access to funds remain their biggest concerns” said Neeraj Sinha, Head of Retail and Consumer banking, SBM Bank India. “Being a young bank, we have always introduced solutions that can address key issues for the segment, otherwise left untouched by the traditional banks.”
The aim of the business card is to streamline expenditure and finances through expense tracking and a 30-day credit period on business purchases, bill payments, travel expenses, supplier payments and other outgoings. The corporate card also provides a dashboard for businesses to analyse expenditure.