Walmart, HDFC unveil co-branded credit card for 'Best Price' members

Walmart India,in partnership with HDFC Bank, on Monday launched a co-branded credit card exclusively for members of its Best Price Modern Wholesale "B2B Cash & Carry" stores, offering "free credit upto 50 days.

The card was launched here at Best Price Storeby Krish Iyer, President and CEO, Walmart India, and Parag Rao, Country Head, Payments Business and Marketing, HDFC Bank.

Simultaneously, the card was launched at 26 other Best Price Modern Wholesale Store locations across the country.

"I think, for our members, it is absolutely momentous occasion because this is the first time, our members in the kirana segment,..., in the offices and institutions segments and all our small resellers will be able to avail credit through digital and for a period ranging between 18 and 50 days and this credit is free...," Iyer said.

Walmart would continue to open more stores in the country, he said.

It would soon open a store at Kurnool in Andhra Pradesh, he added.

The overall retail growth in the country has been quite good over the last many years and India continues to be the one of the most attractive destinations for retail all over the world, Iyer said.

A press release said that under the new collaboration, registered members of Walmart India's 'Best Price' across the country would now also be able to pay for their purchases via the exclusive co-branded credit card, in addition to other payment solutions already available to them.

It also said the co-branded card would offer 'Best Price' members rewards and cashback on all purchases, with savings of upto six per cent on annual spends, it added.