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Yes Bank partners with Kunal Shah-backed ANQ Finance to launch Pi and Phi credit cards

ISN Team
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Yes Bank partners with Kunal Shah-backed ANQ Finance

Indian private sector bank Yes Bank, in collaboration with Bengaluru-based fintech startup ANQ, has launched two co-branded credit cards, Pi and Phi. 

The partnership aims to merge the traditional banking sphere with modern fintech capabilities, offering advanced solutions to meet the changing needs of consumers.

Launching co-branded cards

The partnership has resulted in the creation of two distinct credit cards: the Pi and Phi cards. The Yes Bank ANQ Pi Credit Card is a digital-only card offering seamless credit for domestic transactions through UPI, ensuring secure and convenient payments without any joining or annual fees.


The bank said that users will benefit from earning 8 reward points on UPI transactions above Rs 2000 and enjoy RuPay Platinum Benefits.

Fees and usage of the card

Conversely, the Phi card is designed for both domestic and international use. The physical card also comes with no joining fees and offers comprehensive rewards across various spending categories, including dining and travel.

It provides additional perks such as fuel surcharge waivers and international lounge access.

The card rewards users with 24 points on selected categories for spends of Rs 200 and 4 points on other spends of Rs 200, facilitating a rich reward potential.

Strategic goals and consumer benefits

The collaboration represents a strategic effort to cater to the dynamic needs of Indian consumers by offering versatile financial tools that combine the reliability of traditional banking with the innovation of fintech.

The bank said that the launch is expected to set new standards in the financial sector by offering tailored financial products that enhance consumer experiences and meet diverse needs.

Leadership comments

Ashish Khandelwal, Founder of ANQ, emphasized the significance of this partnership, stating, “This partnership with Yes Bank to launch these co-branded credit cards is a testament to our commitment. With ANQ’s fintech solutions, our focus is on enabling intelligent digital-first solutions. Yes Bank’s vision aligns seamlessly with our goal of delivering maximum value to savvy consumers. Together, we are dedicated to ensuring that this alliance brings forth smart financial solutions that cater to the evolving needs of the modern consumer.”

Anil Singh, Country Head of Credit Cards and Merchant Acquiring at Yes Bank highlighted the collaborative vision: "Together with ANQ, we are poised to introduce a pioneering rewards ecosystem and card solutions that seamlessly blend the reliability of traditional banking with the agility of fintech innovation. Our collaboration is set to redefine the card industry, offering consumers unparalleled choices in spending and rewards.”