Equitas Bank - ‘Equinox’ aims to provide one stop solution for all shopping needs of the customer

Equitas introduces ‘ Equinox’, a loyalty Program for its customers

·        Program introduced with an aim of imbibing digital payment habit  in customers by incentivizing and giving a value for money proposition  ·        Partners with Visa, the global leader in payments technology, to introduce four variants of debit cards

‘Equinox’ aims to provide one stop solution for all shopping needs of the customer

Equitas Bank, the first private sector bank from Tamil Nadu post-Independence announced the launch of its new loyalty program ‘Equinox’exclusively for its customers with an aim to imbibe digital payment habit in them and at the same time provide with one stop shop solution for all their spending needs.

The bank has tied-up with Visa, the global leader in payments technology to introduce four variants of debit cards: Visa Signature, Visa Platinum, Visa Gold and Visa Classic (more details below) with each having different feature   and reward system.  Depending on the card variant, the bank customers can now avail the benefits on select  swipes apart from subscription to customized offers across various categories.

Besides, they can also enjoy the benefits of their respective card while transacting through internet banking, net banking and using other new-age payment channels.

Commenting on the new offerings, P N Vasudevan, MD & CEO, Equitas Small Finance Bank, said, “Our new age customers always look for something rewarding even while they spend their money. Through our partnership with Visa and select merchants, they can now earn up to 10X reward points and utilize the same as per their convenience.”

“Since inception, we have always believed in providing a unique experience to our esteemed customers and creating a different eco-system. 

Our current move also coincides with the country’s drive for digitization. We certainly believe that our efforts will lead to customers moving to cashless transactions and thereby contributing to India’s journey and transformation towards a digital economy,” he further added.

TR Ramachandran, Group Country Manager, India & South Asia, Visa, said, “Visa cards will help Equitas extend a truly rewarding experience to its customers in their digital payments journey. At a time when India is taking  rapid strides towards a digital economy, we are excited to be partnering with Equitas, which is at the forefront of driving adoption of digital payments across both individuals and micro &small enterprises (MSEs).” 

All Equitas Bank customers are auto-enrolled in Equinox which entitles them withreal-time discount coupons of leading brands besides having a dedicated marketplace for various online bookings, right from recharge, hotel, movie and flight bookings. Equinox Points can be redeemed across a vast catalogue of products and booking services.

Equinox also allows customers to earn at an accelerated rate  by transaction at various partner merchants. Apparel - Lifestyle : 2X points, ColorPlus : 4X Points ; Jewellers - Kalyan Jewellers : 2X Points , Malabar Jewellers : 2X Points ; and other partners like Blackberry’s : 3X points , 1mg : 20X Points , PUMA : 4X Points , Monginis :5X points and many more merchants across India.

Not only customers can earn accelerated rewards at select merchants but also redeem their points at these merchant outlets, thus giving an ahaa experience by giving instant discount on the billing equivalent to the points redeemed.

Card variants and features

VisaSignature :

• Four complimentary lounge access per quarter across 25+ lounges in India

•  Blockbuster extended weekends – Buy One Get One Free on Book my Show and Discounts on Food
• Reward Points : 2 Equinox Rewards points per 150 Rs swiped
• Exclusive hotel, travel related discounts.
• 24*7   Concierge Service - From flight,hotel, cab, restaurant to other general requests
• Activation bonus : Welcome bonus points on activation of debit cards within 30 days of issuance
• Emergency assistance globally - replacement card and cash assistance

VisaPlatinum :

• Two complimentary lounge access per quarter across 25+ lounges in India
• Reward Points : Two Equinox Rewards points per 150 rupees swiped
• Exclusive hotel, travel related discounts.
• 24*7 Concierge Service - From flight, hotel, cab, restaurant to other general requests
• Emergency assistance globally - replacement card and cash assistance
• Activation bonus : Welcome bonus points on activation of debit cards within 30 days of issuance

VisaGold :

• Reward points : One Equinox rewards points per 200 rupees swiped
• Emergency assistance globally - replacement card and cash assistance
• Special recognition and offers at retail, dining, travel and entertainment establishments around the world
• Activation Bonus : Welcome bonus points on activation of debit cards within 30 days of issuance

VisaClassic :

• Reward points : One Equinox rewards points per 200 rupees swiped
• Emergency assistance globally - replacement card and cash assistance
• Activation bonus : Welcome bonus points on activation of debit cards within 30 days of issuance

About Equitas Small Finance Bank

Equitas Small Finance Bank Limited is a Small Finance Bank (SFB), licensed by Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 to carry on the business of Small Finance Bank.  The Bank has commenced the business of SFB on September 5, 2016. It is the first Private Sector Bank from Tamil Nadu to commence operations post Indian Independence.

ESFBL was formed by the Merger of two wholly owned subsidiaries of EHL viz., Equitas Micro Finance Limited [EMFL] and Equitas Housing Finance Limited [EHFL] with Equitas Finance Limited [EFL]. 

 

ESFBL, with pan India operations, is focused on providing financing solutions for individuals and micro and small enterprises (MSEs) that are underserved by formal financing channels while providing a comprehensive banking and digital platform for all.

True to its tag line – “Its Fun Banking ”, the bank offers customized savings products with a focus towards giving children, youth, families and entrepreneurs across India, a new and a fun way to bank.

By Q1FY18, ESFBL plans to roll out the entire network of 412 bank branches spread across 13 States in India. Of these 412 branches, 50% will be in South, 30% in West and the remaining 20% in North. About 25 per cent of the bank branches will be located in rural, unbanked villages.

Currently, the bank has an AUM of around Rs.7,181 Cr, of which about 49% is contributed by Micro Finance, 26% by Used Commercial Vehicle Finance and the remaining 24% by MSE and affordable Housing Finance.

About Visa Inc.

Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews

 For further details contact:

Vignesh Murali Equitas Small Finance Bank Limited +91 9952020629 or +91 9840168185

Gaurav Kapoor/Deepti Jha Adfactors PR +91 9819775507/+91 9967988867

Share: