News

Swiggy Partners with HDFC Bank to Launch Exclusive Credit Card

• ByStartupStory     |    July 26, 2023

Food delivery gaint Swiggy has entered the credit card market, aiming to boost customer engagement and loyalty. The company has collaborated with HDFC Bank, India’s largest private bank, to co-launch the credit card. This card will offer a 10% cashback on Swiggy spending and a 5% cashback on over 1,000 partner platforms like Amazon, Flipkart, Uber, and more. Additionally, customers will receive benefits like a three-month subscription to Swiggy One, which waives delivery charges, and 1% cashback on all other purchases.

Powered by Mastercard, the Swiggy credit card aims to diversify revenue streams for the startup while utilizing customer data to drive spending. This move follows a trend among several non-fintech Indian startups that have recently introduced credit cards to tap into the growing middle-class market and enhance customer loyalty. Swiggy’s competitor, Zomato, has also ventured into a similar offering previously.

“We recognize that modern-day consumers actively seek rewards, offers, and cashback programs that add value to their spending. Keeping this in mind, we have launched this all-encompassing card in partnership with HDFC Bank and Mastercard that makes everyday shopping moments across a range of categories more rewarding and convenient,”said Rahul Bothra, Swiggy CFO, in a statement

Follow Startup Story