Flipkart and SBI Card Launch Co-Branded Credit Card Offering Up to 7.5% Cashback

New Delhi – SBI Card, India’s second-largest credit card issuer, and e-commerce giant Flipkart have officially launched the ‘Flipkart SBI Credit Card’ on August 26, 2025. This strategic alliance aims to enhance affordability and value for millions of customers across the Flipkart ecosystem, including Myntra, Shopsy, and Cleartrip. The co-branded card introduces significant cashback benefits and seeks to expand access to formal credit in India's rapidly growing digital economy.

The newly launched card offers substantial cashback rewards, providing 7.5% on Myntra spends and 5% on purchases made across Flipkart, Shopsy, and Cleartrip. Additionally, cardholders will receive 4% cashback on select brands like Zomato, Uber, Netmeds, and PVR, alongside an unlimited 1% cashback on all other eligible spends. Welcome benefits include Flipkart e-gift cards and Cleartrip vouchers, with an annual fee of ₹500 plus taxes, reversible upon achieving ₹3,50,000 in annual spends.

Flipkart, a Walmart-owned company, holds a dominant position in India’s e-commerce market with approximately 48% market share, particularly strong in mobile and apparel categories. Kalyan Krishnamurthy, CEO of Flipkart Group, stated, "This co-branded credit card, in partnership with SBI Card, is another important step in that journey. It reflects our commitment to democratizing and expanding access to formal credit in India." The alliance leverages Flipkart's extensive customer base and reach.

For SBI Card, which commands around 19% of the credit cards in force in India, this partnership is crucial amidst increasing competition and recent profitability challenges. Salila Pande, Managing Director & CEO of SBI Card, emphasized, "With the rapid growth of e-commerce in India, customers are increasingly seeking seamless and rewarding experiences in every purchase." The collaboration aligns with SBI Card's strategy to secure premium co-branded partnerships and tap into high-value customer segments, especially as it navigates a shift towards digital payments and UPI integration.

The introduction of the Flipkart SBI Card is set to further integrate financial services with e-commerce, offering a compelling proposition to Indian consumers. This move by two market leaders underscores the growing trend of strategic alliances in India's digital landscape, aimed at driving consumer engagement and expanding financial inclusion. The card's design, with its focus on cashback and digital application, is tailored to meet the evolving needs of online shoppers.