YES Bank Ltd will offer American Express' credit cards to its high value clients, the private lender said in a statement today.
The premium cards will be available across YES Bank's branches in seven cities. The cards will be available in variants of American Express Platinum Reserve Credit Card, American Express Platinum Travel Credit Card and American Express Gold Card.
The cards will have logos of both YES Bank and American Express.
"We are pleased to partner with a world class institution like American Express in India. As part of our Version 2.0 objectives, YES Bank has a significant commitment towards offering comprehensive retail banking offerings," Rana Kapoor, founder, managing director and chief executive of YES Bank, said.
YES Bank so far did not have credit cards in its product portfolio.
"We believe credit cards are a natural extension and will constitute an important part of our payments portfolio. The immense brand and franchise value of American Express is a complementary fit to our product suite. We will leverage each other's strengths to provide valuable product offerings to our discerning customers," Kapoor added.
The bank said its customers would be entitled to benefits like membership rewards programme and will have access to a worldwide network of millions of merchants across 200 countries.
"YES Bank is a powerhouse addition to our growing list of banking partners. We are delighted to begin this win-win partnership for distribution of American Express Cards. YES Bank's growing retail presence and customer base will help us meet surging customer demand for American Express Cards, which in turn will be a great addition to the bank's full line of products and services. We are confident that American Express Cards will be well received by YES Bank customers," Sanjay Rishi, president at American Express in India, said.