YES Bank And ANQ Launch Virtual RuPay Credit Cards On UPI

YES Bank, has forged a strategic partnership with ANQ, a prominent financial service provider, to launch two cutting-edge co-branded credit cards: the YES Bank ANQ Pi credit card and the YES Bank ANQ Phi credit card.

This collaboration aims to bridge the gap between traditional banking services and the rapidly evolving fintech industry, offering consumers innovative solutions to meet their ever-changing needs.

Anil Singh, Country Head of Credit Cards and Merchant Acquiring at YES Bank, expressed enthusiasm about the partnership, emphasising its commitment to delivering unparalleled convenience and rewarding experiences to customers. The YES Bank ANQ Pi credit card, hailed as a virtual RuPay credit card, introduces seamless credit transactions on the Unified Payments Interface (UPI), providing users with unmatched convenience and versatility.

Key Features of the YES Bank ANQ Pi Credit Card:

a) Virtual RuPay Credit Card: The YES Bank ANQ Pi credit card functions as a virtual RuPay credit card, facilitating smooth transactions on popular UPI applications such as BHIM, PhonePe, Google Pay, Cred, and Paytm.

b) Reward Points: Users can earn eight reward points for every UPI transaction exceeding Rs 200 and two reward points for all other online transactions, including UPI transactions.

c) Reward Points Cap: Reward points are capped at Rs 5,000 per month, ensuring users can benefit from their spending while maintaining a reasonable limit.

d) Redemption Options: Reward points can be redeemed for assets such as digital gold or ANQ coins, offering users flexibility in utilising their rewards.

e) No joining or annual fee: There are no joining or annual fees associated with the YES Bank ANQ Pi credit card, making it an attractive option for cost-conscious consumers.

f) Complimentary Issuance: The YES BANK ANQ Pi credit card is complimentary and issued against the YES BANK ANQ Phi credit card, providing added value to cardholders.

The YES Bank ANQ Phi credit card, powered by the Master card network, complements its counterpart by offering a plethora of rewards across various categories, including dining and travel, enabling users to maximise their benefits with every transaction.

Key Features of the YES Bank ANQ Phi Credit Card:

a) Master card Network: The YES Bank ANQ Phi credit card operates on the Master card network, ensuring acceptance and accessibility both online and offline, worldwide.

b) Enhanced Reward Points: Users can earn 24 reward points for every transaction exceeding Rs 200 at supermarkets, department stores, as well as for flight and hotel bookings.

c) No Reward Points Cap: Unlike the YES Bank ANQ Pi credit card, there is no cap on reward points for the YES Bank ANQ Phi credit card, allowing users to maximise their earning potential.

d) Flexible Redemption Options: Similar to its counterpart, reward points can be redeemed for assets such as digital gold or ANQ coins, offering users versatility in utilising their rewards.

e) Transparent Fee Structure: There is no joining fee for the YES Bank ANQ Phi credit card, and for annual spends up to Rs 1.2 lakh, an annual fee of Rs 499 applies. Beyond this threshold, there is no annual fee, providing users with a transparent and cost-effective fee structure.

The introduction of the YES Bank ANQ Pi and ANQ Phi credit cards marks a significant milestone in the evolution of digital payments and financial services in India. With their innovative features, seamless transactions, and rewarding experiences, these co-branded credit cards aim to redefine the banking experience for consumers, offering them unmatched convenience, versatility, and value.