SBI Card & PhonePe Launch PURPLE and SELECT BLACK Credit Cards: A New Era for UPI-Based Credit in India
In a landmark move for financial innovation, SBI Card and PhonePe have jointly launched two UPI-based co-branded credit cards—PURPLE and SELECT BLACK—promising seamless, app-first credit access and rewards for India’s digital generation.
Partnership Powerhouse
SBI Card, India’s second-largest credit card issuer, brings unparalleled credit expertise and infrastructure to this launch. Meanwhile, PhonePe, with over 500 million users and dominance in UPI payments, offers an unmatched digital platform. Together, they are targeting a new wave of consumers who expect both instant digital onboarding and rewarding credit experiences—all integrated within the familiar PhonePe app.
Comparing PURPLE & SELECT BLACK: Which One Fits You?
| Card | Fee (First Year) | Key Rewards | Best For |
|---|---|---|---|
| PURPLE | ₹499 + GST | 3% on PhonePe/Pincode, 2% select online, 1% everywhere | Frugal, general shoppers |
| SELECT BLACK | ₹1,499 + GST | 10% on PhonePe/Pincode, 5% on top merchants, 1% base | Frequent travelers, big spenders |
| Both | Waiver on high annual spends, welcome gift vouchers, milestone travel vouchers, fuel surcharge waiver, contactless UPI via RuPay |
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PURPLE targets everyday users with value-driven cashback benefits, especially for loyal PhonePe shoppers.
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SELECT BLACK ups the ante with 10% cashback on PhonePe and Pincode, 5% on leading e-commerce and food delivery brands, plus premium perks like airport lounge access and travel vouchers.
Seamless, App-First Credit with RuPay-UPI
What sets these cards apart is true RuPay-UPI integration: users can tokenize their credit card for secure UPI transactions at local kirana stores, online merchants, or utility counters—earning rewards even on UPI spends, a feature unique in the Indian market. The user journey—from application and approval to reward redemption and spend tracking—is entirely digital, eliminating paperwork and extra logins.
Who Benefits?
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PhonePe loyalists gain faster cashback and all-in-one app management.
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Online shoppers enjoy enhanced rewards with key platforms.
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Frequent travelers get upgraded with complimentary lounge access and lucrative milestone vouchers.
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Gen Z and millennials embrace instant issuance, UPI payment capability, and real-time tracking—no need for legacy bank portals.
Market Impact
This launch deepens SBI’s reach among digital-first, credit-light users and transforms PhonePe from a payment leader into a full-stack financial services player. For consumers, it means the disappearance of the old divide between digital payments and credit cards, creating a fluid, app-driven credit experience. The entire industry is likely to face competitive pressure, accelerating the shift to UPI-first, lifestyle-based credit products.
Bottom Line
The SBI Card–PhonePe partnership signals a dramatic leap in how Indians access and manage credit—fusing rewards, digital convenience, and everyday usability for the next generation of banking.