YES BANK and ANQ Finance Launch Innovative Pi and Phi Credit Cards

• ByStartupStory     |    April 30, 2024

YES BANK and ANQ Finance have joined forces to unveil two revolutionary credit cards: Pi and Phi. These cutting-edge cards mark a significant milestone in the convergence of traditional banking and fintech innovation.

The Pi Card is a pioneering digital-only offering, designed specifically for seamless credit transactions on the UPI platform within India. With no joining or annual fees, this virtual RuPay card rewards users generously for UPI transactions, including the ability to convert purchases into EMIs. Users can earn an impressive eight reward points on UPI transactions exceeding Rs 2,000.

On the other hand, the Phi Card is tailored for both domestic and international use in its physical form. Powered by the Mastercard network, the Phi Card offers a diverse range of rewards across various spending categories such as dining and travel. In addition to these benefits, cardholders enjoy perks like fuel surcharge waivers and access to international lounges.

Anil Singh, YES BANK’s Country Head of Credit Cards and Merchant Acquiring, expressed enthusiasm about the collaboration, stating, “Together with ANQ, we are poised to introduce pioneering rewards ecosystem and card solutions that seamlessly blend the reliability of traditional banking with the agility of fintech innovation. Our collaboration is set to redefine the card industry, offering consumers unparalleled choices in spending and rewards.”

Meanwhile, Ashish Khandelwal, Founder of ANQ, emphasized the shared vision of providing intelligent digital-first solutions. “With ANQ’s fintech solutions, our focus is on enabling intelligent digital-first solutions. Yes Bank’s vision aligns seamlessly with our goal of delivering maximum value to savvy consumers. Together, we are dedicated to ensuring that this alliance brings forth smart financial solutions that cater to the evolving needs of the modern consumer.”

YES BANK, known as a top payment service provider (PSP) within the UPI ecosystem, has handled an impressive 3895.71 million transactions. The bank’s PSP services extend to major platforms like PhonePe and BharatPe. Recently, YES BANK acquired merchants formerly associated with the now-defunct Paytm Payments Bank, alongside Axis Bank.

Follow Startup Story