Food delivery giant Swiggy is set to introduce a co-branded credit card in partnership with HDFC Bank several media reports suggested. This move follows similar initiatives by other Indian companies such as Flipkart, Myntra, and Paytm. The trend of co-branded credit cards is gaining traction in India, with tech giant Apple also reportedly discussing plans to launch its Apple Card in the country.
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Swiggy’s Co-branded Credit Card
Swiggy’s co-branded credit card, expected to be networked by Mastercard, will offer flat discounts and special offers on its hyperlocal delivery services. Additional discounts may be provided on Dineout, Swiggy’s restaurant bill payment service. The card is currently being offered to select individuals through invites on the Swiggy app and via email.
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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.
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Competition in the Market
Swiggy’s rival, Zomato, had launched a co-branded credit card with RBL Bank in 2020, but discontinued the service in April this year. With the introduction of its co-branded credit card, Swiggy aims to gain a competitive edge in the market.
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