Zomato and RBL Bank End Co-Branded Credit Card Partnership Affecting Users

• ByStartupStory     |    April 19, 2023

Zomato and RBL Bank have announced the termination of their collaboration for co-branded Edition credit cards. As of May 15, users will no longer be able to utilize Classic and Black Edition cards. RBL Bank released a statement saying, “We would like to inform you that the partnership between RBL Bank and Zomato Limited, our co-brand partner for RBL Bank Edition Classic Credit Card and RBL Bank Edition Black Credit Card is being discontinued.”

Following the termination of their partnership, Zomato users will no longer be able to access the card dashboard on the app after the specified date. The RBL Bank Shoprite Credit Card will replace the existing Classic and Black Edition cards, and the bank will begin shipping the new cards on May 15. From this date, users will be able to take advantage of all of the new card’s benefits. According to the bank, any outstanding dues or EMIs will be transferred to the new card. Zomato customers will be able to redeem all of their cashback on the food delivery app until May 14, with any remaining balance being automatically credited to the new card by May 30.

The Zomato and RBL Bank partnership for co-branded Edition credit cards, which provided 5-10% cashback on all spending through the Zomato and Blinkit apps, has come to an end. The bank will replace the existing cards with the ‘RBL Bank Shoprite Credit Card’, and all outstanding dues will be transferred to the new card. Zomato users can redeem all cashback on the app until May 14, after which any outstanding balance will be auto-credited to the new card by May 30.

The deal between the companies lasted for three years, during which users could manage their cards within the Zomato app, track spending, and access Zomato Pro membership and major domestic airport lounges. The partnership helped Zomato build user loyalty and RBL onboard new customers for its fintech products. However, this dissolution follows Citibank and Paytm’s end to their co-branded credit card partnership in January.

Zomato has ceased its co-branded credit card offering even as other Indian startups are increasing their focus on the product. Recently, HDFC Bank and Flipkart Wholesale announced a co-branded credit card exclusively for Flipkart Wholesale members, and Tata Neu launched a co-branded credit card with HDFC Bank. Swiggy, Zomato’s competitor, was also reportedly in discussions with various banks for a similar program. The decision to end the partnership between Zomato and RBL Bank was made on the same day that Coca-Cola acquired a 15% stake in Thrive, one of Zomato’s rivals, for an undisclosed amount.

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