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PNB Launches Eco-Friendly Twin Credit Cards
20 Jun
Summary
- PNB partnered with Zaggle to launch biodegradable twin credit cards.
- Cards offer access to both Visa and RuPay networks.
- New offering targets younger consumers and market growth.
Punjab National Bank (PNB) has introduced a new line of biodegradable co-branded twin credit cards in collaboration with Zaggle Prepaid Ocean Services Ltd. This strategic move targets the expanding credit card market in India and aims to attract younger consumers.
The PNB-Zaggle Co-branded Twin Credit Cards, launched recently, are manufactured using eco-friendly materials. They offer cardholders access to both Visa and RuPay networks, combining global acceptance with local benefits and UPI convenience.
PNB's Managing Director and CEO, Ashok Chandra, highlighted the bank's view of substantial growth potential in India's credit card sector, noting its underpenetrated status. He expressed confidence that the partnership with Zaggle, leveraging technology and innovation, will enhance customer experience and acquisition.
The twin-card proposition provides extensive rewards, including lounge access, OTT subscriptions, and discounts on purchases like jewelry. Zaggle's CEO, Avinash Ramesh Godkhindi, stated that the partnership aligns with their strategy to develop unique consumer fintech products, emphasizing the cards' ability to reward customers while minimizing environmental impact.
