The Business Bytes
TBB BUREAU
MUMBAI, JUNE 22, 2022
AU Small Finance Bank on Wednesday announced the launch of AU Bank LIT (Live-It-Today) credit card which allows customers to choose the features they want in their card and also decide the time period they want those features for. This type of offering is for the first time in the industry, claimed the bank. While credit card companies offer attractive products in different categories, it is often difficult for customers to find the combination of all such features in one single card. This forces them to opt for multiple credit cards offering specific category rewards, the small finance lender said in a press release.
However, with the AU Bank ‘LIT’ (Live-It-Today) Credit Card, the bank has put the power to choose these features in the hands of the customers – all categories in one card. Further, they also get the freedom to switch on or off these features as per their changing lifestyle requirements. The card offers the benefits in categories such as lounge access, rewards points or cashbacks, OTT and lifestyle memberships, higher reward points for online and POS transactions and others including fuel surcharge waiver, cashback on grocery, the release added.
“At AU Bank, we have always believed in challenging the status quo by leveraging technology and innovationtobringthe change that the banking industry needs.Last year, we became the first Small Finance Bank to start a Credit Card portfolio to empower our customers. Soon, we observed that the digitally-savvy and GenZ consumers neededmore control over the products they use. This led to the evolution of the customizable LIT Credit Card which brings the features of many credit cards into a single card. We will continue to launch many such innovative products and remain true to our mission of being the change agent through our mission, Badlaav Humse Hai,”said Sanjay Agarwal, MD & CEO, AU Small Finance Bank.
While AU Bank already has a bouquet of card services, the addition of the LIT Credit Card will help it caterto the evolving needs of a digital-savvy generation of informed users.AU Bank launched their first range of credit cards last year. Since then, the Bank has successfully enrolled more than 2.3 Lakh credit cards customers from over 200 districts of Tier 2 and Tier 3 cities, majority of whom are first time credit card users.
