HDFC Bank, India’s largest private bank, has partnered with two of the country’s leading consumer platforms, Swiggy and Tata Neu, to launch co-branded credit cards. The cards, which are powered by Mastercard, offer attractive cashback and rewards to the customers across various online platforms.
Swiggy HDFC Bank Credit Card
The Swiggy HDFC Bank credit card, which is the first ever co-branded card from Swiggy, was launched in July 2023. The card provides 10% cashback on Swiggy spends across food delivery, quick commerce grocery delivery, dining out, and more. The cardholders also get 5% cashback on shopping across multitude of platforms including leading e-commerce platforms such as Amazon, Flipkart, Myntra, Nykaa, Ola, Uber, PharmEasy, NetMeds, BookmyShow, and many more. The cardholders also get 1% back on other spends. The cashback is credited in the form of Swiggy Money, which can be used across Swiggy for various transactions. As a welcome benefit, the cardholders also enjoy a complimentary 3-month Swiggy One membership, the country’s only membership program offering benefits across food, grocery, dining out, and pick-up and drop services .
Tata Neu HDFC Bank Credit Card
The Tata Neu HDFC Bank credit card, which is the first ever co-branded card from Tata Neu, was launched in October 2023. The card offers 10% cashback on Tata Neu spends across categories such as fashion, electronics, groceries, travel, entertainment, health and wellness, and more. The cardholders also get 5% cashback on shopping across other Tata group companies such as Croma, Star Bazaar, Taj Hotels, Vistara Airlines, Tanishq Jewellery, and more. The cardholders also get 1% back on other spends. The cashback is credited in the form of Tata Neu Coins, which can be redeemed across Tata Neu and its partner platforms. As a welcome benefit, the cardholders also get a complimentary 6-month Tata Neu Plus membership, which offers free shipping, early access to deals and discounts, exclusive content and experiences.
Benefits for HDFC Bank and Mastercard
The co-branded credit cards with Swiggy and Tata Neu have helped HDFC Bank expand its reach and customer base in the online space. According to sources, HDFC Bank has distributed a million-plus cards with Tata Neu and around 120,000 with Swiggy as of January 2024. The bank expects to increase its market share and revenue from these cards as they offer higher usage and loyalty among the customers. Mastercard, which hosts these cards on its payment network, also benefits from the increased transaction volume and value from these cards. Mastercard also offers World Tier benefits to these cardholders such as free stay and dine, complimentary loyalty memberships, and more .