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Federal Bank, a leading private sector bank in India, announced a new addition to its product portfolio with the launch of Fed StarBiz - a credit card designed exclusively for business customers. This has been launched by Federal Bank in collaboration with NPCI, an umbrella organization for operating retail payments and settlement systems in India and Visa, a global payments technology company. Fed StarBiz is designed to cater to the unique needs of SME customers, offering a range of features and benefits that enhance financial management and convenience.
Fed StarBiz marks Federal Bank's strategic entry into the business and commercial cards segment, with an aim to empower India's vibrant business ecosystem.
Speaking at the launch ceremony, Shalini Warrier, Executive Director at Federal Bank, said “SME customers play a very critical role in India’s growth and Federal Bank has always been at the forefront of providing innovative solutions to them. In continuation of that journey, we are excited to introduce Fed StarBiz, a business credit card. The credit card is available in both Rupay and Visa variants. The card is linked to the customer’s Overdraft or Cash Credit account is designed to provide our business customers with the financial flexibility and security they need to thrive in today's competitive environment.”
Reimagining Business Payments with Fed StarBiz
Fed StarBiz offers a comprehensive suite of features tailored to address the unique challenges faced by business customers:
- Seamless OD/CC Integration: The card links directly to existing Overdraft or Cash Credit accounts with limits up to ₹50 Lakh, creating a unified financial ecosystem for businesses
- Substantial Transaction Power: Enables transactions up to ₹3 Lakh per day or the available limit on the underlying account, whichever is lower
- Enhanced Security Architecture: Advanced tokenization and encryption technologies safeguard every transaction
- Streamlined Financial Management: All card transactions reflect in the underlying OD/CC account, eliminating separate statements and simplifying reconciliation
- Universal Acceptance: Extensive merchant network coverage across India through RuPay and Visa partnerships
Partnership for Innovation
Rajeeth Pillai, Chief of Relationship Management, NPCI, added: "We are pleased to partner with Federal Bank for the launch of Fed StarBiz. This card marks a significant step forward in offering business customers a robust and secure payment solution. With RuPay’s extensive acceptance network and advanced security features, Fed StarBiz will empower businesses across India with seamless and reliable transactions.”
Rishi Chhabra Country Manager at Visa India, stated, “We are pleased to deepen our partnership with Federal Bank with the launch of Fed StarBiz, their first business-focused credit offering. This tailored payment solution will provide businesses with greater benefits, financial control and flexibility, supported by Visa's global acceptance and top-notch security standards. We remain committed to enabling businesses of all sizes to thrive, backed by the Visa promise of trust, security, simplicity and convenience."
Strategic Expansion in Business Banking
The launch of Fed StarBiz represents the first phase of Federal Bank's comprehensive strategy to strengthen its position in the business and commercial payments landscape. The Bank confirms that additional specialized payment solutions are in development, with several launches planned throughout 2025 to address various segments of the business market.
Federal Bank aims to establish itself as the preferred banking partner for businesses through this expanded suite of commercial payment solutions, combining digital innovation with deep understanding of business needs.