EaseMyTrip Launches Co-Branded Travel Debit Card: Will Travelers Swipe It?

Indian online travel agency EaseMyTrip has partnered with Bank of Baroda to introduce the first co-branded travel debit card by a public sector bank in India. This is the latest in the trend of new travel cards in India. 

Travel cards are being adopted at a growing pace as social media is full of tips from influencers on using the best combinations of perks from travel credit cards. A study by fintech platform ZET showed that in 2023, travel credit cards were the fastest growing category: with demand increasing 27% as compared to 2022. 

Air miles, hotel discounts, and travel-related rewards led to the increase in demand. SBI Card, a major player in credit cards, witnessed a 23% increase in its travel, entertainment and restaurant category as of December 2023. 

According to a report by Visa, travel miles, cashback, rewards, high acceptance, foreign exchange rates, and high limits on spending were key drivers for Indians to use travel cards, with almost all travelers preferring to use cards during international travel. 

Meanwhile, an American Express report said that over 60% of the Indian travelers were planning to increase their travel spending in 2024. This was higher than the global average of 40%. 

The adoption of travel cards led to Marriott launching India’s first-ever co-branded hotel credit card in August last year to “leverage the aspirations of the emerging middle class within the nation,” area vice president for South Asia at Marriott Ranju Alex told Skift.

Earlier this year, EaseMyTrip also launched a co-branded credit card with Punjab National Bank. Indian online travel agencies (OTA) have also launched such co-branded credit cards with MakeMyTrip launching one with ICICI Bank, while Yatra partnered with State Bank of India.

However, this is the first time an OTA has partnered for a co-branded debit card with a public sector bank.

What the New Card Offers

The EaseMyTrip Bank of Baroda debit card, which does not place any minimum value requirement for discounts, also offers complimentary subscriptions to OTT platforms. Discounts on domestic and international hotel and flight bookings, and air insurance coverage are also offered on the card. 

It also offers complimentary access to domestic and international airport lounges, which is one of the most appealing travel-related rewards for Indian consumers, according to airport and travel enhancement company Collinson International. 

Is It Lucrative?

The benefits of the new debit card seem good on paper, especially as the benefits that it offers are available throughout the year. At present, travelers often wait for the days when booking websites are offering travel benefits on the cards that they have. 

Sanjay Mudaliar, executive director, Bank of Baroda and Rikant Pittie, Co-founder of EaseMyTrip, are looking at the card as a product that “meets the rising aspirations of customers who love to travel and are looking for convenience and luxury.” 

However, the card’s fine print reads that each cardholder is eligible for up to two transactions per quarter per card within the travel sector. For a frequent traveler, this feature does not bode well, especially when combined with a debit card. “I would never open a bank account just to get a travel debit card, and this card will not let me make many transactions anyway,” said Kerala-based Roy Subramanian. 

30-year-old Karan Kapoor, a proud holder of 18 credit cards, of which seven are travel cards, said, “To me, a debit card makes no sense as the money gets debited as soon as you make a transaction. If there is a fraudulent transaction on a credit card, it can be resolved without you facing a loss. There are also no rewards on this card. Moreover, you can get better discounts and deals on offers on other cards.”