yes, this is one of the co-brand bcards. they also have co-brands with caltex, shogun, chatime, dragon-i, etc.
each co-brand bcard has extra co-brand-related benefits in which the normal green bcard doesn't offer.
which means if you want to have extra benefits with each different merchant, you need to collect all different co-brand bcards and accumulate the points separately.

and i only see the true benefit of all these is to give you a good reason to change a new purse or wallet.