HDFC Bank and Paytm intend to make deep penetration in Tier II and Tier 3 cities through this card. Under this partnership, both will also launch business credit cards together.
Ahead of the festivals, Paytm and HDFC have joined hands to make inroads in the country especially among the young consumers. Together, the two are going to launch a co-branded credit card in October. Its especially Millennials i.e. youth will be the consumers.
Both the companies intend to make deep penetration in Tier II and Tier 3 cities through this card. Under this partnership, HDFC Bank and Paytm will jointly launch business credit cards.
Best rewards and cashback offers
These Visa based credit cards will cater to the needs of small customers to rich users and will be given excellent rewards and cashback offers.
Paytm has a reach of over 33 crore consumers and 21 million merchants, while HDFC Bank has over 50 lakh debit, credit and prepaid cards, and serves around 20 lakh merchants.
Paytm and HDFC said in a statement that this card will be launched in October 2021 and will try to tap the growing demand in areas like credit cards, EMI, Buy Now Pay Later.
business credit card launch
Through this partnership, both will also start business credit cards, which will be of great benefit to shopkeepers, especially in small towns. With this, Paytm will benefit about 2.1 crore shopkeepers.
Both the companies said that they will issue a variety of credit cards and will offer various types of cashback and benefits. These will have digital first cards like mobile credit cards which will aim at making a place among the youth.
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