All Aditya Birla Group Companies from Retail – More Supermarket, Madura Garmenmts – Louis Phillipe etc to Financial services [Birla Sun Life] will launch their own Credit Card to encourage loyalty offers and lure customers to the platform.
Birla Credit Cards will be powered by SBI Cards which will act as the Bank and Card Issuer. This is the first major Co-branding by SBI cards.
With the Credit Card industry still evolving with regulations and reforms, Aditya Birla Group well known for financial muscle and intellect are staying away from the associated risk and passing it on to SBI. However, SBI is a veteran in the industry having learnt its lesson in association with GE by going aggressive in the market and hence will be over cautious in handing out cards to every second person.