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HDFC Bank-Snapdeal co-branded card launched

4Aug20152HDFC Bank and Snapdeal launched a co-branded credit card in partnership with Visa. The card is aimed at encouraging more customers from tier-2 and tier-3 markets to adapt to digital payments. Customers can now use this card to make all purchases, while availing of great value in the form of discounts, offers and rewards, said Parag Rao, business head, Card Payment Product & Merchant Acquiring Services of the bank. Snapdeal, in a statement, said over 70% of its customers are from the tier-2 and 3 geographies, yet these markets account for a miniscule percentage of card payments,. Cash on delivery is currently the preferred mode of payment due to challenges such as lack of access, and limited knowledge and understanding on credit card usage which restricts customers from making credit card transactions. The Snapdeal HDFC Bank credit card will help customers from tier-2 and 3 markets realize the power of technology, which will provide them with the convenience and flexibility to complete payments online whenever they choose.

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