Banking & health ser­vices on a sin­gle card

En­abled by a tie-up be­tween SBI Cards & Apollo Hos­pi­tals

Banking Frontiers - - Co-branded Card - Me­[email protected]­ingfron­

SBI Card, In­dia’s sec­ond largest credit card is­suer, and Apollo Hos­pi­tals Group, the lead­ing in­te­grated health­care ser­vices provider, have joined hands to launch the Apollo SBI Card. While SBI Card of­fers best in class cash­less pay­ments solutions to con­sumers across the coun­try, Apollo Hos­pi­tals has over 10,000 beds across 71 hos­pi­tals, 3000 phar­ma­cies, 90+ pri­mary care and di­ag­nos­tic clin­ics, 110+ telemedicine cen­ters and 80+ Apollo Mu­nich In­sur­ance branches span­ning the length and breadth of the coun­try.


In­creas­ing health con­scious­ness with fo­cus on over­all well­ness is a grow­ing trend among In­dian con­sumers across ages, mak­ing health and well­ness one of the fastest grow­ing seg­ments at present, with pen­e­tra­tion of health­care into un­tapped mar­kets. It is con­tribut­ing to in­creased de­mand for health­care. In­dia has a young pop­u­la­tion and as this pop­u­la­tion ages, de­mand for health­care is set to rise fur­ther. Con­sumer spends on health and well­ness are on the rise. Har­dayal Prasad, MD & CEO at SBI Card, says: “The Apollo SBI Card is the coun­try’s first co-branded credit card in health­care seg­ment. In our port­fo­lio, we have ob­served health and well­ness spends have been grow­ing 30% yoy over last few years. With this card, we bring our con­sumers a pow­er­ful, com­pre­hen­sive prod­uct that takes care of their health­care needs at all stages of their life­cy­cle.”

SBI Card has wit­nessed yoy in­crease in spends share from 12% to 16% plus as of 2017-18. Dur­ing the fi­nan­cial year, spends have in­creased by over 80% against the in­dus­try bench­mark of 40%. Har­dayal Prasad says the com­pany has main­tained over 40% CAGR in card spends, yoy over past 4-5 years, while the in­dus­try bench­mark is at 20-25%.


The new card is de­signed to bring con­sumers ac­cel­er­ated sav­ings and max­i­mum value on their health spends. Con­sumers earn ac­cel­er­ated re­wards on health spends in the Apollo ecosys­tem, which can be in­stantly re­deemed at Apollo health cen­ters. Har­dayal Prasad claims that card­hold­ers also en­joy com­pli­men­tary OneApollo mem­ber­ship which brings ben­e­fits such as ex­clu­sive sav­ings, dis­counts and com­pli­men­tary ser­vices across var­i­ous Apollo of­fer­ings. “We look for­ward to sig­nif­i­cantly in­crease cus­tomer ac­qui­si­tion in the health seg­ment, with the Apollo SBI Card,” he adds.

Cur­rently, SBI Card base is at 6.8 mil­lion (as on Au­gust 2018) and mar­ket share, in terms of card vol­ume, has risen to 16.7% in 2017-18 from 15% a year ago.

Ac­cord­ing to Sud­hakar Nukala, CEO, OneApollo Dig­i­tal, the ex­clu­sive tie-up with SBI Card is for the next 3 years.The tar­get is to reach 4 lakh cards of this par­tic­u­lar co-brand in next 12 months.


As one of the coun­try’s lead­ing credit card is­suers, SBI Card is par­tic­i­pat­ing in the Dig­i­tal In­dia vi­sion and ac­cel­er­at­ing In­dia’s tran­si­tion into a less cash econ­omy. Fo­cused in­vest­ment in tech­nol­ogy to de­velop in­no­va­tive, in­dus­try lead­ing pay­ments solutions and to en­hance over­all cus­tomer ex­pe­ri­ence have been its key growth pil­lars. It is one of the first credit card com­pa­nies that is­sued con­tact­less credit cards or NFCen­abled credit cards.

The com­pany has led the in­dus­try in de­ploy­ing the lat­est tech­nolo­gies, such as chip and PIN tech­nol­ogy, to en­sure safety of its con­sumers. Har­dayal Prasad claims: “Al­most our en­tire port­fo­lio is now on Chip and PIN. We are in the process of in­te­grat­ing con­tact­less fea­ture on all our new cards, to make the pay­ment ex­pe­ri­ence faster, smoother and more se­cure. We are also in­te­grat­ing host card em­u­la­tion tech­nol­ogy which will al­low the card to re­side in vir­tual form in a con­sumer’s mo­bile. This will en­hance ease and se­cu­rity of trans­act­ing as cus­tomers need not carry a phys­i­cal card and the card never leaves the cus­tomers’ wal­lets.”


With con­tin­u­ous in­vest­ment in tech­nol­ogy, both at the back end and at con­sumer/ em­ployee fac­ing touch points, SBI Card looks for­ward to con­sis­tently en­hanc­ing user ex­pe­ri­ence to make life sim­ple for its stake­hold­ers. Har­dayal Prasad says the com­pany is ex­plor­ing and im­ple­ment­ing use of AI in the busi­ness to of­fer a more per­son­al­ized and seam­less con­sumer and em­ployee ex­pe­ri­ence through use of tech­nol­ogy tools such as chat bots and Ro­bot­ics Process Au­toma­tion. “We have re­cently launched ELA (Elec­tronic Live As­sis­tant), a vir­tual as­sis­tant for cus­tomer sup­port and ser­vices. ELA is de­signed to en­hance cus­tomer ex­pe­ri­ence by pro­vid­ing rel­e­vant and in­stant re­sponses to cus­tomer queries,” he adds.

(L to R) Di­nesh Khara, MD, Global Banking & Sub­sidiaries at SBI; Ra­jnish Ku­mar, chair­man, SBI; Shobana Kami­neni, ex­ec­u­tive vice chair­per­son, Apollo Hos­pi­tal and Har­dayal Prasad, MD & CEO, SBI Card

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