SBI Card launches Flipkart co-brand with 7.5% cashback on Myntra, 5% on e-commerce

For DSAs and lending connectors, co-branded cards represent a high-margin product attach opportunity. By bundling credit offers with e-commerce platforms, banks can reach borrowers at point-of-purchase, reducing acquisition friction. The cashback mechanics also signal how issuers are using rewards to subsidise customer acquisition and increase card spends—a shift that impacts the economics of credit distribution partnerships.

For lenders and banks, this card competes directly in the high-spend, low-risk segment: digital-first millennials and Gen Z with proven online transaction histories. The waiver threshold of ₹3.5 lakh annual spends identifies a cohort likely to generate consistent transaction volumes and higher interchange revenue. As festive shopping peaks, such cards become critical acquisition tools in a crowded market.