Inputs for developing a co-branded card

[Abhishek012]

only TechnoFino can confirm it for us.

Yo, @ParthagorasMAx Ok, i give you some details -

1) first of all exclude this categories for reward points/cashback, these are misusing categories MCC Code -

MCC categories: Fuel related (MCC 5541, 5983, 5172, 5542, 5552), e-wallets (MCC 6540), payment of property management fees, rental commissions, rental payments or any such payments made through MCCs 6513, 7012, 7349, Business to Business txns made through MCCs 7399, 7311, 7372, 5045, 5047, 5065, 5072, 5111, 5013, 2741, 5137, 5192, 5193, 5131, 7361, 5085, 7333, 5039, 7379, 5021, 5199, 5122, 5099, 5198, 5139, 7829, 7395, 5051, 5046, 5169, 7375, 5074, 8734, 5044, 2842, 2791, education and government related txns carried out through MCCs 9399, 8299, 8220, 8211, 8241,9311, 8244, 8249, 9222, 9402, 9211, 9405, 9950, 9223, 8351), Insurance (MCC 6300, 5960), Jewelry & Antique items (MCC 5944, 5094, 5932,5937), Gambling (MCC 7995), Tolls and Bridge Fees (MCC 4784), Financial and Non-Financial Institutions (MCC 6011, 6010, 6012, 6051), Security Broker Services (MCC 6211), Collection Agencies (MCC 7322), Charity (MCC 8398, 8641), Money Transfers (MCC 4829), Utility (4814, 4816, 4899, 4900) and Wholesale Clubs (MCC 5300)

2) If possible don't offer statement credit cashback. Offer gift voucher redemption option like Amazon gift voucher, Flipkart gift voucher etc.

Also charge Rs 99+GST for every time gift voucher redemption.

3) Charge 1%+GST surcharge for Rent payment, Wallet spend. For Utility payment - Also impose 1%+GST surcharge on utility spends above 15k or 20k per billing cycle (there are many apps available where you can transfer your credit card balance to bank and merchant category is mostly Utility, so imposing 1%+GST surcharge on utility spends above 15k or 20k per billing cycle is good idea).

4) If possible exclude Amazon for any reward points/cashback, Reason ? Customers are buying Amazon gift vouchers, or they cancel the order and choose the refund option Amazon gift voucher. If you don't know, you can use an Amazon gift voucher to pay utility or insurance bills, or to buy jewelry, gold, etc.

Or you can also do this: customers will get only 1% cashback on Amazon transactions, but no more than that.

5) RuPay Credit Card on UPI transaction - Zero reward points/cashback for transaction under 2k due to Free MDR. Transaction above 2k, No need to offer more than 1% cashback. Personally, I believe that since there is no competition, 0.25% to 0.5% reward points or cashback is enough for UPI transaction.

6) Initially launch chargeable card atleast 500+GST, The charges depend on the type of cards you launch, such as a premium card or a super premium card, etc. For example - If super premium card then charge Rs1499+GST etc.

Now I said that initially the card should be chargeable, later you can offer Lifetime free card for new customers. But if it's a small startup company, you can offer a lifetime free card from the beginning.

7) UPI spend based offer. As I mentioned earlier, higher rewards or cashback should not be given for UPI spending, but you can offer UPI spend-based promotions to select customers from time to time.

Most important point - If this is co-branded card then UPI spend rewards or cashback should only be given through the cobranded company's UPI apps. Zero rewards or cashback should be given for third-party UPI apps like GPay, Paytm, Phonepe, Amazon UPI etc.

8) RuPay credit card spend reward points/cashback - Listen, if you offer more than 2% reward points or cashback, customers will misuse it. Not only on card transactions, but also on UPI transactions. Better to offer card spend-based promotions like

5% Cashback upto 100 on bigbasket spend, 10% cashback upto 100 on Uber spend etc.

But remember to avoid Flipkart and Amazon, otherwise customers will misuse it by only buying and reselling Amazon or Flipkart gift vouchers.

I can provide more details on cobranded cards if you specify the cobranded type you plan to launch. Otherwise, it will just be speculation, and I won't be able to precisely determine how much reward points or cashback should be given.

The same applies to UPI spending. If the company is specifically targeting UPI spending, more details should be shared about the type of cobranded card it is, whether it belongs to a well-established company or a small startup, etc., so that I can provide better insights.

 

[asahi]

5% cashback on utilities Max ₹750 Per Statement cycle
3% cashback on Online spends with No Cap excluding wallets, rentals, fuel, govt services gift vouchers financial institutions B2B, excluding all the MCC’s that abhishek mentioned.
2% cashback on offline spends
1.5% Cashback on Upi Spends
Cashback must be adjusted to bill
Annual Fee ₹999 Joining Fee ₹499
Your card will be massive hit.

 

[m4b]

Seedhi baat no bakwas
5% cashback chahiye for all spends (offline and online both and UPI as well)
No MCC restriction
LTF
Super duper hit
Eligibility criteria: Everyone but Infinia/DCB users

 

[m4b]

all the cards until now have been cashback based, would love to see some miles-based cards.

secondly some decent designs.
almost all of Rupay cards look mediocre when compared to their Indian counterparts

Indusind Rupay Platinum?

 

[SpiesCan'tCatchMe]

So good to see all the feedback on how an ideal card should be

 

[shivamk]

Also charge Rs 99+GST for every time gift voucher redemption.

Why?

Most important point - If this is co-branded card then UPI spend rewards or cashback should only be given through the cobranded company's UPI apps.

Why? .

 

[champaklal]

@ParthagorasMAx
Whatever the card features be, either make it LTF for all or for absolutely no one.. 🙂

 

[Deleted member 11974]

Indusind Rupay Platinum?

only vistara is a partner
directly collaborating with any foreign airline is also a good proposition
emirates,ethiad,qatar have partners already
singapore airlines or American airlines would be good

 

[Abhishek012]

5% cashback on utilities Max ₹750 Per Statement cycle
3% cashback on Online spends with No Cap excluding wallets, rentals, fuel, govt services gift vouchers financial institutions B2B, excluding all the MCC’s that abhishek mentioned.
2% cashback on offline spends
1.5% Cashback on Upi Spends
Cashback must be adjusted to bill
Annual Fee ₹999 Joining Fee ₹499
Your card will be massive hit.

LOL and within a few months the company will go bankrupt. 🤣🤣

Everyone will use Utility category for bank transfer at 1% charges

2% cashback on offline spend ? 🤣🤣 Everyone will swipe the card and convert to cash at just 1% charges.

1.5% Cashback on Upi Spends ? Many customers are doing lakhs of rupees transaction every month using RuPay credit card on UPI, to get only 0.5% rewards. So no need to give 1,.5% Cashback.

3% cashback on Online spends ? There are several ways to transfer to a bank with 2% to 2.5% fee. Max 2% cashback for online spend is enough.

Cashback must be adjusted to bill ? bad idea, if customer will get an option to convert to gift voucher then customers will spend more and also charging Rs 99+GST every time gift voucher redemption. This will be a win-win deal for customers and the card issuer.

Annual Fee ₹999 Joining Fee ₹499 ? ya good idea but Lifetime free also good if it's a small startup company.

 

[ppac18]

As a normal credit card user with no "CC to bank" aspirations or dreams to visit Mauritius based on my kirana spends, the two basic things I am hoping to get when I use a credit card is (a) convenience (i.e., the option to use my credit card in some way to cover all or most of my spends) and (b) some reward that makes it worthwhile to use the credit card instead of just cash (or UPI). With that in mind, here's what I would like to see in a co-branded card:

(1) Rewards without exclusions: I want to be able to use a card without having to bother what MCC has been assigned to the merchant or all of that nonsense. If all you can offer is a net reward rate of 1% after covering transaction charges (if any), I'll be happy to take it if the card covers most of my expenses and does not require me to worry if I am losing money in using the card. The way I see it, that is me getting 1 rupee back for every 100 I spend where I would not be getting anything if I was using cash.

(2) Limits for all categories from the outset: Just about every card that has been a user favorite in the past tended to start with a lot of generous offers and then cut them down when they had reeled in enough users. I think it's unethical for a bank or financial institution to make people go through the whole process of applying for a card with generous offers and then pull the rug with just a month's notice (I am specifically looking at you, Axshit). Do your research before you unveil your card and set limits for everything that might hurt you if someone decides to abuse it. If that means you are gonna set a monthly limit for utilities, a yearly limit for govt. spends, a monthly or yearly cap for rewards, or all of these, that's fine. There will still be a large number of users who will find value within those limits and will appreciate the simplicity of your proposition.

(3) Meaningful and, if possible, relevant co-brand rewards: If the card's gonna come with co-brand rewards, please try to make them meaningful for your users for your users instead of just focusing on fattening the brand partner. A good example would be the Amazon Pay ICICI card, which gives your rewards a meaningful boost if you enroll in their Prime program (basically, I want the brand to also scratch my back if I am being made to scratch its back). Also, while this may not be in your hand, it would be really helpful if the brand partner is actually relevant as opposed to being something that most people are gonna use once in a year or even less frequently.

Hope you find this feedback useful. Looking forward to see what you come up with. 🙂

 

[RAMESH BABU N]

What about a D-Mart card ?
Or, an Automobile brand ?

These brands have a huge loyal customer base - most of whom may be inclined to take this co-branded card. And, on pan-India basis. Unlike an airline branded card, the brands like D-Mart are used daily by millions of customers - and most of them are used to plastic.

Huge base n repeated trxns should be the target. Not a niche 1% or 2% clientele - which anyway have top-end cards.

 

[Vasuki]

all the cards until now have been cashback based, would love to see some miles-based cards.

secondly some decent designs.
almost all of Rupay cards look mediocre when compared to their Indian counterparts

Kotak white reserve says hi

 

[RAMESH BABU N]

Remember PRE-PAID RuPay cards like JUNIO n FabMoney (previous name PepperMoney). They too were giving 1% cashback on almoat all trxns. Despite good design, n better features, they did not get huge client base. Their own Apps were really good. Still, failed to take off in a big way.

How many took these cards? And, how many use it daily? Or, weekly ?

In that context, huge base and repeated use are the two main aspects one must focus.

Almost all of us already have at least 1 or 2 RuPay CCs and 1 or 2 RuPay DCs or RuPay virtual digital cards from different banks.

Why will we take your new card?

 

[SSV]

Hi Team,

I'm working as a product manager for building a co-branded credit card. This community has been a great source of understanding consumers and what they expect out of their card. I'm posting this thread to get direct feedback from you all as to what features would you love to see in a RuPay credit card. Any and all suggestions are welcome, do let me know!

Thanks in advance!

Then you need help of THE DON of Hyderabad and the Rupay man ...my bestie.. @Abhishek012 !!!
Bhayyyaaa!! aao.. aao

Yo, @ParthagorasMAx Ok, i give you some details -

1) first of all exclude this categories for reward points/cashback, these are misusing categories MCC Code -

MCC categories: Fuel related (MCC 5541, 5983, 5172, 5542, 5552), e-wallets (MCC 6540), payment of property management fees, rental commissions, rental payments or any such payments made through MCCs 6513, 7012, 7349, Business to Business txns made through MCCs 7399, 7311, 7372, 5045, 5047, 5065, 5072, 5111, 5013, 2741, 5137, 5192, 5193, 5131, 7361, 5085, 7333, 5039, 7379, 5021, 5199, 5122, 5099, 5198, 5139, 7829, 7395, 5051, 5046, 5169, 7375, 5074, 8734, 5044, 2842, 2791, education and government related txns carried out through MCCs 9399, 8299, 8220, 8211, 8241,9311, 8244, 8249, 9222, 9402, 9211, 9405, 9950, 9223, 8351), Insurance (MCC 6300, 5960), Jewelry & Antique items (MCC 5944, 5094, 5932,5937), Gambling (MCC 7995), Tolls and Bridge Fees (MCC 4784), Financial and Non-Financial Institutions (MCC 6011, 6010, 6012, 6051), Security Broker Services (MCC 6211), Collection Agencies (MCC 7322), Charity (MCC 8398, 8641), Money Transfers (MCC 4829), Utility (4814, 4816, 4899, 4900) and Wholesale Clubs (MCC 5300)

2) If possible don't offer statement credit cashback. Offer gift voucher redemption option like Amazon gift voucher, Flipkart gift voucher etc.

Also charge Rs 99+GST for every time gift voucher redemption.

3) Charge 1%+GST surcharge for Rent payment, Wallet spend. For Utility payment - Also impose 1%+GST surcharge on utility spends above 15k or 20k per billing cycle (there are many apps available where you can transfer your credit card balance to bank and merchant category is mostly Utility, so imposing 1%+GST surcharge on utility spends above 15k or 20k per billing cycle is good idea).

4) If possible exclude Amazon for any reward points/cashback, Reason ? Customers are buying Amazon gift vouchers, or they cancel the order and choose the refund option Amazon gift voucher. If you don't know, you can use an Amazon gift voucher to pay utility or insurance bills, or to buy jewelry, gold, etc.

Or you can also do this: customers will get only 1% cashback on Amazon transactions, but no more than that.

5) RuPay Credit Card on UPI transaction - Zero reward points/cashback for transaction under 2k due to Free MDR. Transaction above 2k, No need to offer more than 1% cashback. Personally, I believe that since there is no competition, 0.25% to 0.5% reward points or cashback is enough for UPI transaction.

6) Initially launch chargeable card atleast 500+GST, The charges depend on the type of cards you launch, such as a premium card or a super premium card, etc. For example - If super premium card then charge Rs1499+GST etc.

Now I said that initially the card should be chargeable, later you can offer Lifetime free card for new customers. But if it's a small startup company, you can offer a lifetime free card from the beginning.

7) UPI spend based offer. As I mentioned earlier, higher rewards or cashback should not be given for UPI spending, but you can offer UPI spend-based promotions to select customers from time to time.

Most important point - If this is co-branded card then UPI spend rewards or cashback should only be given through the cobranded company's UPI apps. Zero rewards or cashback should be given for third-party UPI apps like GPay, Paytm, Phonepe, Amazon UPI etc.

8) RuPay credit card spend reward points/cashback - Listen, if you offer more than 2% reward points or cashback, customers will misuse it. Not only on card transactions, but also on UPI transactions. Better to offer card spend-based promotions like

5% Cashback upto 100 on bigbasket spend, 10% cashback upto 100 on Uber spend etc.

But remember to avoid Flipkart and Amazon, otherwise customers will misuse it by only buying and reselling Amazon or Flipkart gift vouchers.

I can provide more details on cobranded cards if you specify the cobranded type you plan to launch. Otherwise, it will just be speculation, and I won't be able to precisely determine how much reward points or cashback should be given.

The same applies to UPI spending. If the company is specifically targeting UPI spending, more details should be shared about the type of cobranded card it is, whether it belongs to a well-established company or a small startup, etc., so that I can provide better insights.

Okay, with this ... I can conclude that.. this upcoming card that our lovely product manager is about to launch can be considered as DOA ..

I had tagged the wrong person... I tagged the Lord Shiva,the chief destroyer.. ..
I should have tagged the Lord Brahma.. the creator...

Shiva's job is after Brahma's job is done..
Now Shiva aka the don @Abhishek012 entered into the picture even before Brahma's creaton job is done..

Its my fault that I could not find Brahma.. 😉


*DOA =Dead on Arrival

 

[Piyush_Jaiswal]

Remember PRE-PAID RuPay cards like JUNIO n FabMoney (previous name PepperMoney). They too were giving 1% cashback on almoat all trxns. Despite good design, n better features, they did not get huge client base. Their own Apps were really good. Still, failed to take off in a big way.

How many took these cards? And, how many use it daily? Or, weekly ?

In that context, huge base and repeated use are the two main aspects one must focus.

Almost all of us already have at least 1 or 2 RuPay CCs and 1 or 2 RuPay DCs or RuPay virtual digital cards from different banks.

Why will we take your new card?

That's what I wanted to say. If you don't offer anything overwhelming, you won't be able to sustain in the credit card market.

What @Abhishek012 suggested is good, but what would be the use of launching such card which does not have enough users. It would just come and go, no one will give a shit about such cards.

@ParthagorasMAx You should come up with a good rewarding card that is sustainable by restricting few MCCs and introducing a decent cap on maximum cashback. Restricting every MCC and merchants like Amazon/Flipkart will be a FLOP since most of the users shop from these websites only.

 

[Riya Sharma]

Here:
Charge Card
Upto 8% off on everything when redeeming to transfer partners and 4% for cashback
Comes with dual cards, i.e One will be on Visa/MC and other will be RuPay for UPI. You may half the reward rate on the RuPay card and impose limits.
Setup Smartbuy like portal for gift card purchase at 3x/5x points
Annual fee will be 12000 inr and reversal at 8 lakhs.

 

[Riya Sharma]

Yo, @ParthagorasMAx Ok, i give you some details -

1) first of all exclude this categories for reward points/cashback, these are misusing categories MCC Code -

MCC categories: Fuel related (MCC 5541, 5983, 5172, 5542, 5552), e-wallets (MCC 6540), payment of property management fees, rental commissions, rental payments or any such payments made through MCCs 6513, 7012, 7349, Business to Business txns made through MCCs 7399, 7311, 7372, 5045, 5047, 5065, 5072, 5111, 5013, 2741, 5137, 5192, 5193, 5131, 7361, 5085, 7333, 5039, 7379, 5021, 5199, 5122, 5099, 5198, 5139, 7829, 7395, 5051, 5046, 5169, 7375, 5074, 8734, 5044, 2842, 2791, education and government related txns carried out through MCCs 9399, 8299, 8220, 8211, 8241,9311, 8244, 8249, 9222, 9402, 9211, 9405, 9950, 9223, 8351), Insurance (MCC 6300, 5960), Jewelry & Antique items (MCC 5944, 5094, 5932,5937), Gambling (MCC 7995), Tolls and Bridge Fees (MCC 4784), Financial and Non-Financial Institutions (MCC 6011, 6010, 6012, 6051), Security Broker Services (MCC 6211), Collection Agencies (MCC 7322), Charity (MCC 8398, 8641), Money Transfers (MCC 4829), Utility (4814, 4816, 4899, 4900) and Wholesale Clubs (MCC 5300)

2) If possible don't offer statement credit cashback. Offer gift voucher redemption option like Amazon gift voucher, Flipkart gift voucher etc.

Also charge Rs 99+GST for every time gift voucher redemption.

3) Charge 1%+GST surcharge for Rent payment, Wallet spend. For Utility payment - Also impose 1%+GST surcharge on utility spends above 15k or 20k per billing cycle (there are many apps available where you can transfer your credit card balance to bank and merchant category is mostly Utility, so imposing 1%+GST surcharge on utility spends above 15k or 20k per billing cycle is good idea).

4) If possible exclude Amazon for any reward points/cashback, Reason ? Customers are buying Amazon gift vouchers, or they cancel the order and choose the refund option Amazon gift voucher. If you don't know, you can use an Amazon gift voucher to pay utility or insurance bills, or to buy jewelry, gold, etc.

Or you can also do this: customers will get only 1% cashback on Amazon transactions, but no more than that.

5) RuPay Credit Card on UPI transaction - Zero reward points/cashback for transaction under 2k due to Free MDR. Transaction above 2k, No need to offer more than 1% cashback. Personally, I believe that since there is no competition, 0.25% to 0.5% reward points or cashback is enough for UPI transaction.

6) Initially launch chargeable card atleast 500+GST, The charges depend on the type of cards you launch, such as a premium card or a super premium card, etc. For example - If super premium card then charge Rs1499+GST etc.

Now I said that initially the card should be chargeable, later you can offer Lifetime free card for new customers. But if it's a small startup company, you can offer a lifetime free card from the beginning.

7) UPI spend based offer. As I mentioned earlier, higher rewards or cashback should not be given for UPI spending, but you can offer UPI spend-based promotions to select customers from time to time.

Most important point - If this is co-branded card then UPI spend rewards or cashback should only be given through the cobranded company's UPI apps. Zero rewards or cashback should be given for third-party UPI apps like GPay, Paytm, Phonepe, Amazon UPI etc.

8) RuPay credit card spend reward points/cashback - Listen, if you offer more than 2% reward points or cashback, customers will misuse it. Not only on card transactions, but also on UPI transactions. Better to offer card spend-based promotions like

5% Cashback upto 100 on bigbasket spend, 10% cashback upto 100 on Uber spend etc.

But remember to avoid Flipkart and Amazon, otherwise customers will misuse it by only buying and reselling Amazon or Flipkart gift vouchers.

I can provide more details on cobranded cards if you specify the cobranded type you plan to launch. Otherwise, it will just be speculation, and I won't be able to precisely determine how much reward points or cashback should be given.

The same applies to UPI spending. If the company is specifically targeting UPI spending, more details should be shared about the type of cobranded card it is, whether it belongs to a well-established company or a small startup, etc., so that I can provide better insights.

come on bro. Why would you give them all this info for free? At least ask for a one-time consultancy payment or tell them to hire you. This is the shit that a product manager gets paid lakhs to do and you did it for free.

 

[m4b]

come on bro. Why would you give them all this info for free? At least ask for a one-time consultancy payment or tell them to hire you. This is the shit that a product manager gets paid lakhs to do and you did it for free.

Every SDE ever 🤣 🤣 🤣

 

[imdjay]

come on bro. Why would you give them all this info for free? At least ask for a one-time consultancy payment or tell them to hire you. This is the shit that a product manager gets paid lakhs to do and you did it for free.

thats why.. hard working juniors are there naa..

 

[SSV]

come on bro. Why would you give them all this info for free? At least ask for a one-time consultancy payment or tell them to hire you. This is the shit that a product manager gets paid lakhs to do and you did it for free.

Because his mission target is different .. He does this for his fun , Moolah is not a criteria here..