HDFC and Paytm will launch special credit cards, small merchants will benefit

HDFC and Paytm will launch special credit cards, small merchants will benefit
HDFC and Paytm will launch special credit cards, small merchants will benefit

HDFC Paytm Credit Card: HDFC Bank and Paytm are going to launch a special type of credit card together, which is going to benefit small merchants in particular.

After the ban of 8 months, HDFC Bank is now going to issue credit cards with new offers. Now the bank has joined hands with the digital payment application Paytm in this work i.e. now HDFC Bank and Paytm are going to launch the credit card together. Now banks and Paytm will launch a special type of credit card, which is going to benefit especially small merchants and keeping them in mind, facilities are going to be provided in it. Also, through this, many types of customers will be targeted.

In such a situation, know what is going to be special in the credit card and how the merchants are going to benefit through it. Also know what is the plan of the bank regarding this credit card…

Special card for small merchants
Let us tell you that this credit card is being launched to meet the needs of retail customers. Also, its features are for those people who are using the card for the first time and they can get more cashback and offers. The target customers of this credit card will be small merchants. It is believed that this card can be launched in October and in this, customers will be given facilities like various offers, EMI, Buy Now Pay Later. However, not much information has been revealed about credit card fees etc.

Through this card, merchants dealing in Tier-2 and Tier-3 markets will get the benefit. Let us tell you that HDFC currently has 5.1 customers, who use credit cards, debit cards or prepaid cards. It is believed that every third rupee spent through the card in India is done through the HDFC Bank card itself. Now the bank is going to reach new customers through this special card and the customers are also going to benefit a lot from it.

The bank has set a new target

Last month the largest private sector bank was allowed to issue new credit cards again last week after nearly eight months, after which the bank is aiming to regain its market share in the credit card market. Parag Rao, Group Head, Payment and Consumer Finance, Digital Banking and IT, HDFC Bank had earlier said that the bank is re-entering this market. In such a situation, he has set some goals for himself.

Rao said that our first target is to take the sales of new credit cards to 3 lakhs. The bank was achieving this figure before the ban in November 2020. He said that the bank will achieve this figure in three months. He said that after two quarters of this, we aim to take the credit card sales on a monthly basis to 5 lakhs. “In three-four quarters from now, we will be able to achieve our credit card share in numbers. Rao said the bank lost market share in terms of number of cards during the ban, but it encouraged customers to spend. In this sense, it has been able to maintain its market share.


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