Tata Neu-HDFC Bank credit card crosses 2M issuances
The card's integration with UPI is said to have contributed to the high engagement, with over 12 million transactions a month and Rs 800 crore of monthly spending via UPI.
Tata Neu and HDFC Bank's co-branded credit card has crossed 2 million issuances, accounting for over 13% of net new credit cards issued in the third quarter of FY25, according to RBI data.
The credit card has gained traction across diverse consumer segments, including new-to-bank customers, offered against a fixed deposit, according to a statement.
The card's integration with UPI (Unified Payments Interface) has contributed to the high engagement, with over 12 million transactions a month and an estimated Rs 800 crore of monthly spending via UPI. Grocery, fuel, and utility payments constitute nearly 30% of total spending on the card, , the statement said.
The card is available in both RuPay and Visa variants and includes benefits such as up to 10% rewards on Tata Neu transactions, complimentary domestic lounge access, and IHCL Silver membership. The partnership between Tata Neu and HDFC Bank leverages Tata Digital’s consumer-facing platforms alongside HDFC Bank’s payments infrastructure.
Launched in April 2022, Tata Neu is a multi-purpose super-app developed by Tata Digital, a subsidiary of the Tata Group. The app integrates various services—including groceries, fashion, electronics, travel, hospitality, health, fitness, entertainment, and financial services—into a single platform, offering users a seamless shopping and payments experience.
Tata Neu was initially spearheaded by Pratik Pal, who was appointed CEO of Tata Digital in August 2019. The leadership transitioned to Naveen Tahilyani on February 19, 2024. Prior to this role, Tahilyani had served as the CEO and managing director of Tata AIA Life Insurance.
Edited by Swetha Kannan