AU Small Finance Bank and CheQ Launch LED Tap-to-Pay Credit Card

AU Small Finance Bank, in partnership with CheQ, has introduced a co-branded credit card featuring a unique LED-powered tap-to-pay indicator. 

This innovation is designed to enhance the payment experience by providing a visual confirmation whenever a transaction is made using contactless technology. Applications for the card will open on the CheQ app starting April 28, marking CheQ’s entry into the credit card issuance segment.

LED Technology Enhancing Payments

The standout feature of this card is the embedded LED light that activates during tap-to-pay transactions. Powered by the NFC field of the point-of-sale terminal, the LED does not require a battery, making it both efficient and low maintenance. This feature aims to make transactions more intuitive and reassuring for users, especially in fast-paced retail environments where quick confirmations are valuable.

Rewards and Benefits Structure

The card offers a unified rewards system through CheQ Points, addressing common concerns around fragmented reward programs. Users can earn up to 12% rewards on select categories such as e-commerce and bill payments, 5% on everyday spending, 2.5% on UPI transactions via RuPay, and 1% on other purchases. These rewards can be redeemed within the CheQ ecosystem for gift cards, travel bookings, and bill payments, offering flexibility and convenience.

Network Support and Additional Perks

The credit card operates on both Visa and RuPay networks, ensuring wide acceptance both globally and for UPI-based transactions in India. It comes with an annual fee of ₹499, which is waived if the user spends ₹3 lakh annually. The LED variant carries a one-time fee of ₹999, currently waived until May 31. 

Additionally, cardholders receive a complimentary EazyDiner membership as a welcome benefit, adding value for dining and lifestyle experiences.

Leadership Perspective and Strategy

According to CheQ’s Founder and CEO Aditya Soni, the card is designed to simplify credit usage and improve the overall transaction experience. AU Small Finance Bank’s Founder, MD and CEO Sanjay Agarwal highlighted that the partnership aligns with the bank’s focus on customer-centric innovation and expanding its digital offerings.

Also Read: AU Small Finance Bank Gets RBI Relief on NOFHC Rule for Universal Bank Transition!

Conclusion

The AU SFB and CheQ co-branded credit card combines technology, rewards, and convenience to redefine user experience. With features like LED-enabled payments and flexible rewards, it represents a step forward in digital banking innovation and customer engagement.

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