US-based Fifth Third Bank (FTB) has launched its new cashback rewards credit card dubbed the ‘Fifth Third Cash/Back Credit Card’.

FTB’s flagship rewards credit card offers 1.67% cashback on each purchase, in any product category.

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The bank’s customers can ‘tap and go’ in-store to make payments with the contactless-enabled card.

Alternatively, cardholders can also load the required amount into their digital wallets for making payments.

The credit card can be managed using the Fifth Third Mobile Banking app.

In addition to the 1.67% unlimited cashback, the Fifth Third Cash/Back Card comes with no annual fee, no rewards expiration and no rotating categories.

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Additionally, FTB is rolling out two new products for private clients.

These products will also come without any annual fee and offer 2% unlimited cashback on every purchase.

Fifth Third Bank head of consumer products and payments Mike Butera said: “The Fifth Third Cash/Back Card keeps things simple: You make purchases, you earn cashback.

“We are excited to introduce our new flagship rewards card that ensures a seamless experience for our customers, as well as offers more rewards and benefits as their relationship expands with us.

“There are no hidden requirements or qualifications. Customers can use one card and know that they are receiving tangible benefits no matter where and what they purchase.

“Consumers want one card that earns abundant cashback on all purchases regardless of the category.”

Earlier this month, India’s SBI Card joined forces with Paytm to roll out contactless credit cards.

Last month, US digital personal finance company SoFi launched its own credit card that helps members pay their debts using the rewards earned from spending.