HDFC first private bank to tie up with IRCTC for co-branded credit card

India’s largest private sector bank on Wednesday announced a partnership with IRCTC to launch “IRCTC HDFC Bank Credit Card” which provides exclusive benefits on bookings through IRCTC website & app, lounge access, besides others.

Earlier, IRCTC has only partnered with SBI and Bank of Baroda for this travel segment of the card.

The launch comes a day after many HDFC Bank users took to Twitter to mention that they were not able to perform transactions on HDFC’s internet banking and mobile app. 

Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking and IT, HDFC Bank said, “The IRCTC HDFC Bank Credit Card will enable us to offer our card to millions of Indians across the country. As the largest card issuer in the country, it is our endeavour consistently to find new ways to nurture and support the payments ecosystem in India.”

The RBI had imposed an embargo on the bank for issuing new cards in December 2020 for the repeated tech glitches the bank was suffering. The curb was lifted in August 2021 after RBI was satisfied with the work put in by the bank to address the issues it was facing.

The biggest gainer during this period was ICICI Bank, which added over four million credit cards between November 2020 and July 2022, followed by SBI Card (3.24 million cards), and Axis Bank (3.05 million cards).

Commenting on the association, Rajni Hasija, Chairman & Managing Director, IRCTC said, “HDFC Bank is among the largest and most trusted banks in the country. We are delighted to partner with them for this initiative. The co-branded card offers exclusive access to newly opened state-of-the-art lounges available at most of the major railway stations.”

Praveena Rai, Chief Operating Officer, National Payments Corporation of India (NPCI)  said the cobranded credit card will offer seamless payment convenience and appealing benefits to customers for rail travel as well as their shopping needs.

”With RuPay Credit Cards now enabled on UPI for payments, this cobranded card will provide impetus to further adoption and reach of digital payments across India,” she added.

Additionally, IRCTC HDFC Bank Credit cardholders will enjoy an attractive joining bonus, discounts on bookings, and access to the several executive lounges at railway stations across the country.

The credit card was launched by Ms. Rajni Hasija, Chairman & Managing Director, IRCTC, Mr. Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking and IT, HDFC Bank and Ms. Praveena Rai, COO, NPCI at a launch ceremony held at New Delhi.a