AU Small Finance Bank (AU SFB) and CheQ launch LED-powered co-branded credit card

Key facts

• AU Small Finance Bank (AU SFB) and CheQ have launched a co-branded credit card featuring an LED-powered tap-to-pay indicator.
• The LED feature is powered by the Near Field Communication (NFC) field of the point-of-sale terminal and does not require a battery.
• Applications for the card open on the CheQ app from April 28.
• The card operates on both Visa and RuPay networks to support global acceptance and Unified Payments Interface (UPI) transactions.
• The reward structure includes 12% rewards on e-commerce and bill payments, 5% on everyday spending, 2.5% on UPI transactions via RuPay, and 1% on other spends.
• The card has an annual fee of ₹499, which is waived on annual spends of ₹3 lakh.
• The LED variant carries a one-time fee of ₹999, which is waived until May 31.
• Cardholders receive a complimentary EazyDiner membership as a welcome benefit.