Swiggy enters credit card space, launches co-branded product with HDFC Bank

Card will operate on Mastercard's payment network; rollout in phases on Swiggy app overnext 7-10 days

HDFC Bank and Swiggy have jointly launched a co-branded credit card, the lender said in a release on Wednesday. The move marks Swiggy's entry into the credit card space, and the card will operate on Mastercard's payment network. The rollout of the credit card will occur in phases on the Swiggy app over the next 7-10 days, and after that, all eligible customers will have the opportunity to apply for it, the release said.

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With this new credit card, users will get benefits like 10 percent cashback on their Swiggy spends, covering food delivery, grocery delivery, dining out, and other services. Moreover, shoppers will receive a 5 per cent cashback on purchases made across various platforms, including Amazon, Flipkart, Nykaa, Ola, Uber, and more. The 5 percent cashback offer also applies to websites like Nike, H&M, Adidas, and Zara. Additionally, customers can avail themselves of 1 per cent cashback on all other expenses. The cashback will be in the form of Swiggy Money, which can be used for transactions within the Swiggy platform.

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As part of the welcome package, cardholders will receive a complimentary three-month membership to Swiggy One. This exclusive membership programme offers advantages related to food, grocery, dining out, and pick-up and drop services. Beyond the cashback benefits, Swiggy HDFC cardholders will gain access to additional perks through the World Tier Mastercard. These added benefits include complimentary stays and dining, loyalty memberships, and more, further enhancing the overall cardholder experience.