HDFC Bank, India’s largest private bank, and Swiggy, an on-demand convenience platform, jointly launched the Swiggy HDFC Bank co-branded credit card. The co-branded credit card, the first ever from Swiggy, will be hosted on Mastercard’s payment network.
The credit card will provide cardholders rewards and benefits across various online platforms, including Swiggy. The credit card users will get 10 per cent cashback on Swiggy spends across food delivery, quick commerce grocery delivery, dining out, and more.
Cardholders will also receive a 5 per cent cashback on shopping across many platforms, including e-commerce platforms including Amazon, Flipkart, Myntra, Nykaa, Ola, Uber, PharmEasy, NetMeds and BookmyShow. This benefit will apply to branded websites like Nike, H&M, Adidas and Zara.
Customers will also get 1 per cent cashback on other spends in the form of Swiggy Money. They can later use this on the food ordering platform for various transactions.
As a welcome benefit, cardholders will enjoy a complimentary three-month Swiggy One membership, which offers benefits across food, grocery, dining out, and pick-up and drop services. Swiggy HDFC cardholders will also enjoy World Tier Mastercard benefits such as free stay and dine, complimentary loyalty memberships, etc.
The credit card will be rolled out in a phased manner on the Swiggy app over the next seven to 10 days, after which all eligible customers can apply for it.
Founded in 2014, Swiggy’s on-demand convenience platform connects consumers to over 20,000 restaurant partners across India. Its quick commerce grocery service, Instamart, is present in over 25 cities. At the same time, its latest addition, Dineout, offers users experiences in high-use categories like dining out and events in 34 cities across the country.
Rahul Bothra, Chief Financial Officer, Swiggy, said, “We recognise that modern-day consumers actively seek rewards, offers, and cashback programs that add value to their spending. Keeping this in mind, we have launched this all-encompassing card in partnership with HDFC Bank and Mastercard, making everyday shopping moments across various categories more rewarding and convenient.”
Parag Rao, country head for payment business, consumer finance, technology and digital banking at HDFC Bank, added that dining and grocery are at the core of customer’s daily needs. “With this strategic collaboration, we offer the convenience of both categories bundled with great value. The cardholders will be able to enjoy exclusive deals and unparalleled convenience on various products and services,” he added.