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PhonePe introduces new credit cards ahead of IPO
PhonePe just rolled out two new credit cards—PURPLE and SELECT BLACK—in partnership with SBI Card.
This move is all about expanding its business ahead of a much-anticipated IPO, following its recent team-up with HDFC Bank.
PhonePe's IPO and market position
PhonePe, owned by Walmart, is a leading digital payments app in India.
The company hasn't shared exact IPO numbers yet, but its $12 billion valuation and new hires show it's gearing up for something big.
PhonePe's new credit cards from SBI
Both cards work on RuPay and Visa networks, support UPI payments through the PhonePe app, and come packed with perks: up to 10% rewards on PhonePe spends (with SELECT BLACK), joining fee returns as e-gift vouchers, travel rewards, fuel surcharge waivers, and a fully app-based application process for extra convenience.