HT Bureau
GUWAHATI, March 30: HDFC Bank and Shoppers Stop have joined hands to launch co-branded credit cards. The credit cards will be available to over 9 million customers of Shoppers Stop along with HDFC Bank customers. The launch was announced at an event in Mumbai by Parag Rao, country head – Payment Business, Consumer Finance, Technology, and Digital Banking, HDFC Bank, and Venu Nair, Customer Care Associate, MD & CEO from Shoppers Stop.
Speaking at the launch event, Parag Rao, country head- Payment Business, Consumer Finance Technology, and Digital Banking, HDFC Bank said, “As part of our broader strategy to come back with a bang, we are keen to partner with multiple players in our eco-system from travel, healthcare, fintechs, and retail to provide best-in-class payment solutions. Shoppers Stop has been a household name in India for decades and we are delighted to partner with such a trusted brand. Our partnership will enable their customers to get a highly rewarding shopping experience catering to distinct needs. As India’s leading credit card issuer, we are committed to accelerating the adoption of cards and digital payments across the country, thereby reinforcing our leadership in the segment.”
Venu Nair, Customer Care Associate, managing director, and CEO at Shoppers Stop added, “We are delighted to partner with one of India’s strongest and favorite financial institutions. Our co-branded cards with HDFC Bank will bring unmatched benefits to our first citizens. They will be able to avail of discounts and offers provided by the bank and redeem points at our stores. This is a win-win-win proposition for our customers, Shoppers Stop and HDFC Bank.”
Notably, the credit cards will be available in two categories, Shoppers Stop HDFC Bank Credit Card and Shoppers Stop BLACK HDFC Bank Credit Card. The reward points will differ depending upon the card, with Black Card ensuring higher loyalty points. Customers can redeem their points at Shoppers Stop in-store, online, or with their partner Estee Lauder Group stores in India while making the purchases.
