Speaking at the launch Nanoo Pamnani, chief executive officer (CEO) and global consumer bank head, India Citibank NA, said: "This alliance is of great significance for the banking and the aviation industry in India."
Naresh Goyal, chairman, Jet Airways, said, "This is a unique value-added proposition for all our customers and it is such a situation where all the participants will benefit."
The card will credit the JP member with mileage on the amount of spends made. For every Rs 100 spent, the member will be credited with three miles on the frequent flyers account.
At the outset, after getting the card, he will be credited with 1,500 miles. The person registering for the card will automatically get enrolled in the frequent flyers program with Jet Airways that currently has about 120,000 customers since its re-launch in November 1999.
The accumulated JP miles earned on spending with the card can be combined with the miles accumulated by frequent flying on Jet Airways.
These miles can be redeemed on flights on Jet or its international partners such as KLM Royal Dutch, British Airways and Northwest Airlines.
The card will also entail other benefits like a personal insurance package which entitles a frequent flyer up to Rs 20 lakh as a personal accident cover and an all-inclusive travel insurance including loss for baggage, delayed baggage, passport and ticket loss, delayed flight and missed flight connection. Global purchase protection also forms a part of this insurance package.
Sameer Vakil, vice-president and country manager South Asia MasterCard, said: "We think consumers in India are demanding privileges that are available around the world so this tie-up is a result of consumer needs. Our experience from all around the world give us that added advantage."
