Mastercard and City Union Bank Unveil India's First 'One Credential' Experience for Consumers and SMEs

BusinessWire India
Mumbai (Maharashtra) [India], September 10: Mastercard today unveiled a pilot of its One Credential solution in India with City Union Bank (CUB), introducing the country’s first such experience that brings consumer and commercial payment relationships together under a single tokenized credential.
Mastercard One Credential is designed for both consumers and small and medium-sized enterprises (SMEs), allowing multiple eligible payment relationships to be linked to a primary card. Cardholders can set rules based on transaction amount, merchant category, channel, to name a few, ensuring transactions are automatically routed to the appropriate underlying source of funding when the primary card is used at checkout. They can also update these preferences at any time to reflect their evolving financial needs.
The solution gives consumers and SMEs greater control over how transactions are funded by automatically routing payments to the appropriate linked account based on preset preferences. For example, a cardholder can designate a travel-focused card for travel-related purchases, ensuring access to travel-specific rewards and benefits without any action required at checkout. For SMEs, it helps keep personal and commercial expenses clearly segregated while providing access to business-focused benefits.
Mastercard One Credential also supports responsible credit usage. For instance, a customer new to credit can route everyday purchases to a debit account while reserving a credit line for larger planned expenses or emergencies, based on preferences set in advance.
For issuers, the solution creates new cross-sell opportunities by enabling additional products, such as a new credit line, to be linked to a customer’s primary credential without the need to issue separate cards. The bank retains full control over rules, data, customer experience, and transaction routing through its backend systems.
“Consumers and businesses today expect payment experiences that are as flexible and dynamic as the way they manage their finances,” said Gautam Aggarwal, President, India & South Asia, Mastercard. “As digital adoption accelerates and financial needs become more diverse, the future of payments lies in giving people greater choice, simplicity, and control. Mastercard One Credential reimagines the payment experience by enabling multiple funding options through a single tokenized credential, empowering cardholders to decide how they want to pay in different situations. We are proud to unveil this innovation in India and help shape a more intuitive, personalized payments ecosystem.”
Through this pilot, eligible CUB customers will benefit from a simplified experience that reduces the need to carry or switch between multiple cards while providing greater flexibility and control over how transactions are funded.
“We are delighted to collaborate with Mastercard to unveil One Credential to our customers,” Vijay Anandh, MD & CEO, City Union Bank. “As customer expectations continue to evolve, there is growing demand for banking experiences that are seamless, rewarding, and easy to manage. Mastercard One Credential enables us to deliver greater value through a single payment relationship while creating new opportunities to offer tailored products and benefits without increasing card proliferation. This innovation will help strengthen customer engagement across both consumer and business segments, both of which are pivotal in the service offering from City Union Bank.”
Through this pilot, City Union Bank has become one of the first banks globally to explore bringing consumer and commercial payment relationships together through Mastercard One Credential.
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