India-based IndusInd Bank has partnered with domestic loyalty programme PAYBACK to introduce a co-branded credit card for its customers.

Dubbed IndusInd Bank PAYBACK Credit Card, the new product features Visa payWave technology that allows customers to make payment by just waving their card at the payment terminal.

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Cardholders will get PAYBACK Points on all payments made with the new credit card.

Furthermore, the card offers additional points on both in-store and online transactions at more than 100 PAYBACK partner brands.

The earned rewards can be transferred to the customer’s PAYBACK account, and redeemed for a variety of purchases such as dining, shopping, entertainment and travel bookings.

Customers can also redeem the points while buying products from the PAYBACK Rewards Catalogue, or get instant vouchers at any of the PAYBACK Partners.

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IndusInd Bank executive vice-president and head of marketing and retail unsecured assets Anil Ramachandran said: “We believe, the IndusInd Bank PAYBACK Credit Card is among the most rewarding cards in the industry as the acquired reward points are equivalent to spendable money which can be redeemed across a catalogue of over thousand products and services being offered by PAYBACK as well as its partner brands.”

PAYBACK CEO Gautam Kaushik said: “With this partnership with IndusInd Bank, we look forward to further enhancing our customer connect and increasing engagement by providing extraordinary rewards through the new IndusInd Bank PAYBACK Credit Card.

“This will help further our objective of driving high frequency transactions and giving a seamless experience to customers, in addition to providing them another avenue to accelerate accumulation of PAYBACK Points.”