SBI Cards and Payment Services Ltd. Company History and Annual Growth Details

The Company was incorporated as “SBI Cards and Payment Services Private Limited” on May 15, 1998, as a private limited company under the Companies Act, 1956, at New Delhi, with a certificate of incorporation granted by the RoC. On the conversion of the Company to a public limited company, pursuant to a special resolution passed by the shareholders on August 2, 2019, the name was changed to, “SBI Cards and Payment Services Limited” and a fresh certificate of incorporation dated August 20, 2019 was issued by the RoC. The Company was registered as a non-public deposit taking NBFC pursuant to a certificate of registration (bearing number No. 14.01328) dated October 6, 1998, issued by the RBI. Pursuant to a change in name of the Company and conversion from a private company to a public company, a certificate of registration (bearing number No. 14.01328) dated November 13, 2019 was issued by the RBI.

Major events and milestones :

1998

- Incorporation of the Company and registration to act as a non-public deposit taking NBFC by RBI

1999

- Launch of the website

2005

- Registration to act as a corporate agent (composite) by IRDAI

2006

- Launch of the white label card with Tata Sons Limited

- Launch of the co-branded card with IRCTC

2013

- Launch of the co-branded card with Air India

- Launch of the EMV chip and pin enabled card

2014

- Launch of the co-branded card with Fbb

- Launch of the mobile application

2016

- Launch of the “SBI unnati” card

2017

- Launch of “Project Shikhar” to introduce the credit cards to SBI customers Exit of GE Capital from the Company and acquisition of its stake by both, SBI and CA Rover

- Launch of the co-branded card with BPCL

2018

- Launch of the virtual assistant chatbot, ‘Ask ILA’

- Launch of the co-branded card with Apollo Hospitals Enterprise Limited

2019

- Amalgamation of SBIBPMSL with the Company

- Launch of the co-branded card with Etihad

- Launch of the co-branded card with Allahabad Bank

- Launch of the co-branded card with OLA Money Conversion to a public limited company

- Launch of the “shaurya” card for defence personnel on the Rupay Network

2020

- Grant of registration for the new logo under certain classes with the Registrar of Trademarks under the Trade Marks Act

 

Awards and Accreditations :

2013

- Awarded VISA Recognition, “Best Issuing Institution” for excellence in Fraud Risk Management, 2013

2014

- Awarded “AISA Outsthecing Excellence Award : Excellence in Customer Service” as part of CMO Asia Awards 2014

2015

- Awarded “Gartner Global Eye on Innovation Award 2015”

- Awarded "Global Regulatory and Compliance GE Beliefs Award" by General Electric

- Awarded “”Global Service Quality Award For Risk Efficiency-Domestic Issuer”, 2015 by VISA

2016

- Awarded VISA Recognition “Champion Security Award” South East Asia for Excellence in Fraud Risk Management- 2016

- Awarded “Compliance Team of the Year- Rest of the World” by GRCI

- Awarded “Global Quality Service Award For Authorisation Approval Rate-Card Not Present Commercial Issuer 2016” by VISA

2017

- Awarded “Best Data Quality Awards-Consumer Bureau Category- NBFC”, 2017 by Transunion CIBIL

- Awarded “Visa Service Quality Award For Authorization Approval Rate- Card Not Present, Commercial Issuer”, 2017 by VISA

2018

- Awarded “Best Loyalty Program in Financial Sector: Non-Banking – 2018” under Customer Loyalty Awards

- Awarded “Best Data Quality Awards- Consumer Bureau (NBFC)”, 2018 as part of CIBIL Data Quality Awards 2018

- Awarded “Corporate Excellence Gold Award for Compliance Innovation” as a part of SKOCH Summit 2018

- Awarded “VISA Global Service Quality Award for Pursuit of Excellence Global Fraud Rates 2018” by VISA

- Awarded "Financial Crime Compliance Team of the Year, Regulated Industries" by Global Women in Compliance Awards London

- Awarded “Learning Innovator Award,” as part of GP Strategies Awards, 2018

- Awarded "Corporate Excellence Gold Award" for Compliance Innovation by Skoch Awards

- Awarded "Order of Merit" for Corporate Governance by Skoch Awards

- Awarded "Order of Merit" for Compliance by Skoch Awards

2019

- Awarded “Best Loyalty Program in Financial Sector: Non-Banking – 2019” under Customer Loyalty Awards

- Awarded VISA Recognition “Champion Security Award”, South East Asia for Excellence in Fraud Risk Management, 2019 as part of VISA Security Summit

- Awarded “Gold Winner: Customer Service Department of the Year” as part of Golden Bridge Awards, 2019

- Awarded “Gold Winner: Customer Service Team of the Year” as part of Golden Bridge Awards, 2019

- Awarded “Silver Winner: Customer Service Outstanding Performance of the Year” as part of Golden Bridge Awards, 2019

- Awarded “Best Data Quality- Consumer Bureau amongst NBFCs 2019” as part of Data Quality Awards 2019

- Awarded "ACAMS AML Professional of the Month" for January 2019 by ACAMS, US (Association of Certified Anti Money Laundering Specialists)

- Awarded “Gold Stevie Winner: Customer Service Executive of the Year” as part of Stevie Awards 2019

- Awarded “Sliver Stevie Winner: Customer Service Department of The Year” as part of Stevie Awards 2019

- Awarded “Compliance Professional of the Year Award” as a part of GRCI Compliance Professional Awards, 2019

- Awarded “Most Effective Arrangements – Financial Crime and Sanctions Compliance” as a part of the Compliance Register Platinum Awards for Exemplary Service to Compliance and Regulation, 2019

2020

- Awarded in the category of “Analytics/Big Data” as part of the DELL Technologies BFSI Technology Conclave, 2020

2022

-SBI Card collaborates with Punjab & Sind Bank to launch co-brand credit cards.
-SBI Card, Aditya Birla Finance join hands to launch 'Aditya Birla SBI Card'.


2023
-SBI Card partners Reliance Retail for co-branded Rupay Credit Card.
-SBI Card Launched Credit Card for MSMEs to cater to short term credit needs.

2024
-SBI Card launched KrisFlyer SBI Card in partnership with Singapore Airlines.
-SBI Card partners Singapore Airlines for KrisFlyer Credit card.
-SBI Card introduces inaugural travel-centric core credit card 'MILES'.
-Titan SBI Card' launched for aspirational swiping.