EaseMyTrip in partnership with Bank of Baroda has introduced a pioneering travel debit card in India.
This card offers an array of travel perks, but its limitations might impact its reception among travellers.
EaseMyTrip has partnered with Bank of Baroda to introduce India’s first co-branded travel debit card. This card offers enticing travel perks such as discounts on hotel and flight bookings, air insurance coverage, and even complimentary subscriptions to OTT platforms. Despite these benefits, the card’s limitations, including a cap on quarterly transactions, could limit its appeal to frequent travellers.
Travel cards are experiencing a surge in popularity in India, with social media influencers sharing tips on maximising travel rewards. In 2023, travel credit cards saw a 27% increase in demand compared to the previous year. Key drivers for this trend include air miles, hotel discounts, and other travel-related rewards, as reported by fintech platform ZET.
Compared to other travel credit cards in India, the EaseMyTrip debit card lacks certain advantages. While it provides substantial travel benefits, the limitation on the number of transactions per quarter is a significant drawback for frequent travellers. Credit cards, in contrast, often offer higher spending limits and additional protections against fraudulent transactions.
Industry experts, such as Sanjay Mudaliar from Bank of Baroda and Rikant Pittie of EaseMyTrip, view the card as meeting the aspirations of travel-loving customers. However, frequent travellers express concerns about its limitations. Kerala-based Roy Subramanian finds opening a bank account solely for this debit card unappealing, while Karan Kapoor, an avid credit card user, prefers credit cards for their rewards and security.
The trend of co-branded cards is gaining momentum. Last year, Marriott launched India’s first co-branded hotel credit card. EaseMyTrip had previously collaborated with Punjab National Bank for a credit card, and others like MakeMyTrip and Yatra have followed suit with ICICI Bank and State Bank of India, respectively. However, this is the first collaboration for a co-branded debit card with a public sector bank in India.
The EaseMyTrip Bank of Baroda debit card offers unique benefits like no minimum value requirement for discounts and complimentary airport lounge access. According to Collinson International, lounge access is a top priority for Indian consumers. However, without the rewards and high spending limits of a credit card, its overall allure might be limited.
While the card offers year-round benefits, its utility is restricted by the two-transaction-per-quarter limit within the travel sector. This restriction, along with the inherent drawbacks of a debit card compared to a credit card, diminishes its attractiveness for those who frequently travel.
EaseMyTrip’s travel debit card offers unique benefits, yet its transactional limitations may deter frequent use.
Travellers must weigh these factors when considering if this card aligns with their travel needs.