India's second largest private sector lender, HDFC Bank and online marketplace Snapdeal jointly launched co branded e-commerce credit card today.
The card is aimed at getting Snapdeal's customers, 70 per cent of whom are from smaller cities and towns, to make online payments instead of availing the cash on delivery option.
A customer can apply for the card from Snapdeal's website, mobile site or mobile application. The applicant's credit eligibility will be checked instantly.
This card will cater to the changing needs and lifestyles of customers in tier 2 and 3 cities who can now use it to make all purchases, while availing of great value in the form of discounts, offers and rewards.
The customer is at the centre of our ecosystem and this new initiative is aligned in this direction," said Kunal Bahl, Co-Founder and CEO, Snapdeal.
Even non customers of the the bank can apply for the co-branded credit card. The move is aimed at tapping the rise in ecommerce transactions with payments companies like Paytm which gives discounts to attract customers.