Bengaluru-based Practo ties up with RBL Bank to launch a health-centric credit card

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Practo, a Bengaluru-based healthtech platform, has tied up with RBL Bank to launch a co-branded health-centric credit card ‘RBL Bank Practo Plus‘ -backed by Mastercard.

The company said that the credit card is designed to carter to customers in both metros and non-metro cities.

Some of the benefits include unlimited online consultations with doctors 24×7, one free full body health check-up and for every INR 100 spent on the card, cardholder earns one unit of Practo HealthCash.

“Healthcare is a largely untapped segment and this partnership will be a great opportunity for the Bank and Practo to leverage each other’s strengths to capture the market and offer customers a one-of-a-kind health card with exciting offers,” Harjeet Toor, Head of Retail, Inclusion and Rural Businesses, RBL Bank, said.

Practo was founded by Shashank ND and Abhinav Lal in 2008. The platform operates as a marketplace model, offers multiple services to users ranging from finding the healthcare provider to booking an appointment, online doctor consultation, getting their tests done and ordering medicines.

Practo also makes software products that help healthcare providers in digitising their hospitals and clinics.

Tarun Bhambra, VP and business head, Practo, said, “This card gives a unique ability to consumers to use their regular spends for household expenses for subsidizing their monthly health spends on Practo platform.”

Practo also makes software products that help healthcare providers in digitising their hospitals and clinics. The company website shows that it is present in 15 countries and enables 50 million appointments a year. It claims to have 100,000 healthcare providers onboard.

Furthermore, the company said that the Practo Health Cash can be used while availing Practo services like ordering medicine, tests, online consultations. Once the credit card is issued, a Practo health plan account is created on the Practo app.

The cardholders need to log-in with their registered mobile numbers to access this plan under the MyHealth Plan section on Practo. The card also comes with complimentary access to the domestic airport lounge twice every quarter.

On the other hand, the credit card ecosystem in India is growing at a fast pace and holds immense promise with regards to penetration and acceptance in many areas including ecommerce, travel, retail, payments and more.

While most Indians have accessed some form of informal credit, there are only an estimated 49 Mn credit cards in circulation.

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