Digital marketplace for consumer credit and free credit score platform Paisabazaar and RBL Bank on Thursday announced the launch of their new co-created credit card ‘Duet’.
According to Paisabazaar, Duet is a credit card that offers cashback on purchases and also a line-of-credit from RBL Bank that enables instant transfer of money into the bank account.
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“Duet is a lifetime free credit card from RBL Bank, with easy-to-understand direct cashback benefits. The card provides a flat one percent cashback on all online and offline spends with no upper limit,” the company said in a statement.
Duet is exclusively available on the Paisabazaar platform and has an end-to-end digital process. It will be part of Paisabazaar’s neo-lending product suite and will replace Paisa On Demand (PoD) credit card on the platform.
Utkarsh Saxena, Head Products — Credit Cards, RBL Bank, said, “We are excited to expand our credit offerings through this partnership with Paisabazaar. It will enable us to offer an enhanced Credit Card experience to customers combined with a flexible lending product and several value-added propositions.”
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Gaurav Aggarwal, Senior Director, Paisabazaar, said, “At Paisabazaar, we have a clear focus on innovation, through product, process, and partnership, to meet existing need gaps of large consumer segments. Duet with RBL Bank is another step in our journey, as we continue to strengthen our neo-lending strategy, aimed to add genuine value to our consumers and the lending ecosystem.”
Paisabazaar is building its neo-lending strategy to cover specific innovation, supply, and process gaps within the industry. Its aim is to drive innovative lending solutions and ease access to credit for large segments, across geographies, income levels, and credit profiles.
