HDFC Bank has partnered with Arzooo, India’s fastest-growing retail tech platform, to launch purchase cards designed specifically for offline retailers. Over the next 12 months, the goal is to issue one lakh such credit cards.
Over 40,000 retail partners on the Arzooo platform will benefit, as they will now be able to manage their working capital more efficiently. The purchase card will play a pivotal role in mobilizing the economy by providing impetus to small and mid-sized retailers by providing easy access to capital.
The key feature of this card is that it offers interest-free credit for up to a month and a credit limit of up to Rs 10 million. Also, this card is integrated with the Arzooo mobile application for ease of use during checkout. To unlock the opportunities, retailers would need easy access to credit, which Arzooo aims to provide with its collaboration with HDFC Bank.
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