Paisabazaar and Federal Bank Unveil High-Reward Grocery Cashback Credit Card

Paisabazaar, partnering with Federal Bank, introduces the Federal Bank Paisabazaar Paisaback Credit Card, offering 7.5% cashback on grocery shopping at top supermarkets and quick-commerce platforms. Launched at Mumbai's Global Fintech Festival, the card caters to essential household expenses with added benefits for broader spending categories.

Paisabazaar, a top player in India's fintech market, has partnered with Federal Bank to launch the Federal Bank Paisabazaar Paisaback Credit Card. This innovative credit card offers significant rewards on grocery shopping, targeting one of the most common household expenses.

Unveiled at the Global Fintech Festival in Mumbai, the Paisaback Credit Card provides 7.5% cashback on groceries, encompassing a range of popular supermarkets like Reliance Fresh, DMart, Star Bazaar, and Nature's Basket, along with quick-commerce platforms like Blinkit and BigBasket. Operable on the RuPay network, the card also offers 1% cashback on eligible POS and e-commerce transactions, and 0.5% on UPI transactions over Rs. 2,000.

With an annual fee waived after spending Rs. 1.5 lakh, the credit card is designed to integrate seamlessly into consumers' lifestyles. Saugata Basu from Federal Bank emphasized the card's focus on essential expenses as a key feature. Paisabazaar CEO Santosh Agarwal noted that the card maximizes savings on routine purchases, highlighting the importance of understanding consumer behavior in financial product development.