Launch Overview

Paisabazaar, India’s leading fintech marketplace, partnered with Federal Bank to launch the Federal Bank Paisabazaar Paisaback Credit Card on 14 September 2026 at the Global Fintech Festival in Mumbai. The card operates on the RuPay network and is positioned to reward grocery spending, a frequent household expense.

Cashback and Reward Structure

  • The card provides 7.5% cashback on eligible grocery purchases made both online and offline at supermarkets such as Reliance Fresh, DMart, Star Bazaar, Nature's Basket, and quick‑commerce platforms including Blinkit, Zepto, Swiggy Instamart, and BigBasket.
  • For all other point‑of‑sale (POS) and e‑commerce transactions, the card offers 1% cashback.
  • UPI transactions above Rs 2,000 (excluding grocery, fuel, and travel categories) earn 0.5% cashback.
  • Cashback is credited as Cash Points, which remain valid for one year from the date of credit.
  • The maximum cashback benefit is capped at Rs 1,000 per month across all eligible transactions.

Fees, Waivers, and Additional Benefits

  • The card carries a joining and annual fee of Rs 500.
  • The annual fee is waived when the cardholder’s annual spend reaches Rs 1.5 lakh or more.
  • A fuel surcharge waiver of up to Rs 100 per billing cycle is provided.

Executive Commentary

  • Santosh Agarwal, CEO of Paisabazaar, stated that the card aims to translate credit‑card rewards into meaningful savings on recurring grocery expenses, noting that traditional rewards in this category have been limited.
  • Saugata Basu, Senior Vice President and Head of Retail – Cards and Personal Loans at Federal Bank, highlighted that the product is designed to fit seamlessly into everyday spending patterns, offering convenience and tangible savings.

About Paisabazaar

Paisabazaar is a part of PB Fintech, listed on Indian exchanges since 2021. Over the past 12+ years, it has served 58 million consumers across 850 cities and towns, offering a wide range of financial products including loans, cards, investments, and bill‑payment services. The platform is ISO 27001:2013 and PCI DSS certified, ensuring robust data security.

Key Takeaways

  • The card targets high‑frequency grocery spenders with a market‑leading 7.5% cashback rate.
  • Additional cashback on POS/e‑commerce and UPI transactions broadens the card’s appeal.
  • Fee waiver and fuel surcharge benefits enhance the overall value proposition.
  • Launch at a major fintech event underscores the strategic partnership between a leading fintech platform and a traditional bank.