Federal Bank and Paisabazaar have jointly launched the Paisaback Credit Card at the Global Fintech Festival in Mumbai. The RuPay card offers 7.5% cashback on eligible online and offline grocery purchases, including at supermarkets such as Reliance Fresh, DMart, Star Bazaar and Nature’s Basket, as well as quick-commerce platforms including Blinkit, Zepto, Swiggy Instamart and BigBasket.
The card also provides 1% cashback on eligible POS and e-commerce transactions and 0.5% cashback on eligible UPI transactions above ₹2,000, excluding grocery, fuel and travel. Cashback is credited as Cash Points, with a maximum cashback benefit of ₹1,000 per month. The ₹500 joining and annual fee is waived for customers spending ₹1.5 lakh or more annually.
Santosh Agarwal, CEO, Paisabazaar, said the card is designed to make everyday grocery spending more rewarding while offering additional benefits on other purchases and UPI transactions. The card also includes a fuel surcharge waiver of up to ₹100 per billing cycle.