The credit card was launched at the Global Fintech Festival (GFF) in the presence of Mr. Nalin Bansal- Chief of Corporate and Fintech Relationships at NPCI and Mr. Amit Sinha- Head of credit card sales and partnerships at Yes Bank
As India’s first multi-brand co-branded card, it brings together top brands such as Zomato, Blinkit, Cult, Rapido, Cleartrip, and Pharmeasy, covering key daily expenditure categories like e-commerce, groceries, F&B, travel, and health & fitness. POP aims to create a relevant value proposition with these marquee brands while leveraging the growing UPI and RuPay networks.
Cardholders can earn rewards on every transaction through POPcoins. RuPay card holders benefit from accelerated POPcoins earnings when using the card with POP UPI. POPcoins can be redeemed for a wide range of products from major direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods—all available within the POP app. Additionally, POPcoins can be used for purchases on Zomato, Blinkit, Cult, Rapido, Cleartrip, and Pharmeasy.
The card offers an attractive rewards structure, ensuring that every transaction is rewarding. Users can earn 10% POPcoins on all online transactions, 2% POPcoins on offline transactions, and an additional 5% POPcoins when using the card with POP UPI. The card has no joining fee and comes with an exclusive set of joining benefits worth ₹5,000, including 500 bonus POPcoins, a six-month Pharmeasy Plus membership, a ₹750 Cleartrip Flight Voucher, a ₹500 Cult Voucher, a three-month Zomato Gold Membership, and a Rapido Ride Pass.
“We initiated a waitlist during the pre-launch phase alongside the launch of POP UPI. The response was overwhelming, with 32,000 customers waitlisting for the card—an impressive feat achieved without any marketing push. This strong initial interest reflects the market’s readiness,” said Bhargav Errangi, Founder of POP. Errangi, a former Flipkart Senior Director, has a track record of scaling Flipkart’s Shopsy and Flipkart Supercoins.
In June 2024, POP launched its UPI + e-commerce app platform, where users can earn POPcoins on each UPI transaction. Within just two months, POP surpassed a monthly UPI transaction rate of 1 million.
POP recently secured $2.4 million in seed funding from India Quotient and other notable investors to launch its UPI (Unified Payments Interface) Play. The funding will assist POP in expediting the implementation of various initiatives, including the POP UPI service, allowing users to earn POPcoins, a shopping currency already utilized by 200+ online merchants, with every UPI transaction made through the POPclub app. POP has joined the ranks of prominent players such as Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorized to provide UPI payments.
