Swiggy Launches Credit Card in Partnership with HDFC Bank :
Swiggy, the popular Indian food delivery startup, has announced the launch of its own credit card in collaboration with HDFC Bank, India’s largest private bank. This move is part of Swiggy’s ongoing efforts to enhance customer engagement and retention. The credit card will offer customers a range of benefits, including cashback on Swiggy spends and partner platforms, as well as access to exclusive services.
The partnership with HDFC Bank :
The partnership with HDFC Bank, one of India’s leading financial institutions, further strengthens Swiggy’s position in the market. HDFC Bank’s extensive customer base and expertise in the banking sector will undoubtedly contribute to the success of the Swiggy credit card.
With the launch of its credit card, Swiggy aims to provide its customers with a seamless and rewarding experience. By offering cashback on food orders and a wide range of partner platforms, Swiggy ensures that customers can make the most of their spending. The inclusion of Mastercard benefits and access to Swiggy One further enhances the value proposition of the card.
As Swiggy joins the growing list of Indian startups offering credit cards, it is clear that these cards have become an essential tool for driving customer engagement and loyalty. With their tailored benefits and rewards programs, these credit cards are reshaping the way consumers interact with startups and providing a significant boost to revenue streams. As the competition intensifies in the Indian market, it will be interesting to see how other startups respond to this trend and what new innovations they bring to the table.
Swiggy’s plan to ramp up its credit play comes at a time when it is diversifying from the food tech business and quick-commerce to become a larger ecommerce platform.
The company is running pilots in Bengaluru for a service named ‘Maxx’, which provides goods across home and kitchen appliances, utensils, electronics, babycare products, as well as clothing.
Ecommerce aspirations, stiff competition :
Swiggy’s plan to ramp up its credit play comes at a time when it is diversifying from its food tech business and quick-commerce aspirations into becoming a larger ecommerce platform.
The company is running pilots in Bengaluru for a service named ‘Maxx’, which provides goods across home and kitchen appliances, utensils, electronics, babycare products, as well as clothing.
HDFC Bank’s Co-branded Credit Card Portfolio :
HDFC Bank has a diverse range of co-branded credit cards across various categories like travel, dining, fuel, and railways. The addition of the Swiggy HDFC Bank Credit Card to its portfolio will be a significant offering for loyal Swiggy customers.
Swiggy is also said to be relying on flat discounts and special offers on its hyperlocal delivery services for users who use its credit card. The foodtech could also offer additional discounts on Dineout, Swiggy’s restaurant bill payment service.
Also, HDFC Bank has a decent range of co-branded credit cards across various categories like travel, dining, fuel, railways, and more. The bank is soon expanding its portfolio with the co-branded Swiggy HDFC Bank Credit Card which will be a great offering for loyal Swiggy customers. Individuals are currently getting the invite for this card through the Swiggy app and Email.
