SBI Card has collaborated with credit card payment platform CRED to enable cardholders to tokenize their cards on devices and make payments. The credit card service company in an exchange filing informed that the service is available only on Android NFC devices. The service has been launched exclusively in India."

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Currently, only Cards issued in Indian territory are enabled on CRED Network. However, customers may transact using his/her SBI Card through CRED Network in international locations," the filing said.

Meanwhile, SBI Card has informed its customers that the company will revise the charges, starting March 17. As per an SMS and email sent out to the cardholders, individuals who pay their rent via credit card will now be charged Rs 199 and applicable taxes, representing an increase from the previous fee of Rs 99.“With effect from 17 Mar 2023, charges on Rent Payment transactions with SBI Credit Card will be revised,” the company in an SMS sent to its customers.

 Click Here For Latest Updates On Stock Market | Zee Business Live

The company had in November 2022 as well raised the processing fee for credit card rent payments to Rs 99 + 18 per cent GST.SBI Card was launched in 1998. Headquartered in Gurugram, SBI Card in March 2020 became the first credit card company to list on the stock exchanges in the country.

The company claims that it has over 15.5 million credit cards in force and also it is the second-largest credit card issuer in the country.

 Also read- Income Tax slabs, rates and exemptions for senior citizens: Know how income tax on pension is calculated

SBI Card Share Price NSE

Shares of SBI Card settled at Rs 744 apiece on NSE on Monday.

SBI Card Share Price Target 

Zee Business panellist and market expert Kunal Saraogi said that SBI Card has strong support at 700. He suggested accumulating the shares of the credit card company on fall and for long term investors, the target would be Rs 900/Rs 1000.