HDFC Bank launches co-branded credit card with Swiggy

HDFC Bank has launched a new co-branded credit card with food delivery firm Swiggy, the companies said on Wednesday.

The co-branded card, the first one for Swiggy, will offer 10% cashback on Swiggy and 5% cashback across more than 1,000 platforms including Amazon, Flipkart, Myntra, Nykaa, Ola, Uber, and Pharmeasy. According to Swiggy, some branded websites such as Nike, Adidas, H&M, and Zara will also provide a 5% cashback.

Customers will also get 1% back on other spending. The cardholders will get cashback in the form of Swiggy Money, which can be used across Swiggy for various transactions.

The Swiggy-HDFC Bank credit card will be hosted on Mastercard’s payment network and will provide cardholders rewards and benefits across various online platforms, including Swiggy.

Cardholders will also get a complimentary three-month Swiggy One membership.

The credit card will be rolled out in a phased manner on the Swiggy app over the next 10 days, after which all eligible customers will be able to apply for it, Swiggy noted.

The development comes shortly after rival Zomato discontinued its co-branded card partnership with RBL Bank after nearly three years.

A co-branded card is a partnership programme between a merchant and a bank to reward users for transactions and an easy way to ensure customer loyalty.