Snapdeal, India’s largest online marketplace today and HDFC Bank Ltd. today launched a co-branded Visa credit card with lots of offers and discounts.
The new card will offer Rs 500 cash back on spending Rs 5000 across any category on Snapdeal (for one time only.)
It will also offer 10% cash back on Recharges & Bill payments on Freecharge, which is also owned by Snapdeal.
The credit card will also give a 5% cash back on Ola Cabs, Rs 1,250 off on weekend getaways booked on Cleartrip App worth Rs.7,000 or more and Rs 1,000 cash back on spending Rs 5,000 or more in Cleartrip App for domestic hotel booking.
The offering is aimed at encouraging more customers from tier 2 and 3 markets to adapt to digital payments, Snapdeal and HDFC said.
“Over 70% of Snapdeal’s customers are from the tier 2 and 3 geographies, yet these markets account for a miniscule percentage of card payments. Cash on delivery (COD) 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,” they said.
HDFC said that the application process for the card is simple, easy and quick.
“Prospective customers can apply for the card online across Snapdeal platforms i.e. website, mobile site and application. For faster processing of application, the eligibility & CIBIL checks will be conducted instantly while customer is filling the application form,” it added.
Annual charges of the card were not revealed.
