Swiggy, a popular food delivery platform, has collaborated with HDFC Bank to launch a co-branded credit card

Swiggy, a well-known food delivery service, has partnered with HDFC Bank to introduce a co-branded credit card. This alliance is a part of the ongoing trend of ecommerce sites forging collaborations with banking institutions to offer co-branded credit cards. Facilitated by Mastercard’s payment network, the chief goal of this credit card is to boost customer retention and elevate the average order value by offering considerable benefits to its holders. Key perks include a 10% cashback on all Swiggy transactions and a 5% cashback on notable ecommerce platforms such as Amazon, Flipkart, and others. The cashback will be provided in the form of Swiggy Money, a digital wallet within the Swiggy application.

Important Points to remember:

  1. Interactions between ecommerce sites and banking institutions are increasing, with the introduction of co-branded credit cards being a prominent outcome.
  2. The Swiggy-HDFC co-branded card aims to augment customer retention and escalate average order value on Swiggy.
  3. Swiggy's co-branded credit card offers some key benefits such as 10% cashback on Swiggy transactions and 5% cashback on various ecommerce platforms.
  4. Cashback will be awarded in the form of Swiggy Money that is the company’s integrated digital wallet.