PhonePe and HDFC Bank have launched ‘PhonePe HDFC Bank Co-branded Credit Card’, marking PhonePe’s foray into the co-branded card segment. This new line of co-branded RuPay Credit Cards is designed to meet the evolving financial needs of the Indian consumer by offering benefits on UPI spends, especially on the PhonePe Platform.
This strategic partnership between HDFC Bank and PhonePe leverages their respective banking and fintech strengths to make credit cards accessible and user-friendly. Available in ‘Ultimo’ and ‘UNO’ variants, these cards offer rewards on popular spending categories like recharge, bill payments, travel, online shopping, groceries, and cabs. Additionally, the cards integrate seamlessly with UPI, allowing users to pay for their everyday spends via credit card while enjoying the rewards offered on the cards via the extensive merchant network enabled on UPI QRs.
Speaking on the launch, Sonika Chandra, Chief Business Officer, Consumer Payments at PhonePe said, “This launch underscores our commitment to providing innovative financial solutions to our wide set of user base. This card is positioned to offer PhonePe customers value on their regular spends, by giving them 10% reward points across select categories like bill payments, recharges, and travel bookings. Additionally, consumers can use this card seamlessly across millions of UPI merchants. We are confident that our strategic partnership with HDFC Bank, coupled with the benefits that this card offers, will redefine the credit card experience for millions of Indians.”
The card will be rolled out to eligible PhonePe users in a phased manner.
