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PhonePe, HDFC Bank Roll Out Co-Branded Credit Card to Boost Digital Spending
News
28 June 2025
1 min read
332
PhonePe and HDFC Bank have jointly launched a co-branded digital-first credit card aimed at accelerating cashless transactions across India. The card will be issued on the RuPay network and integrated directly with the PhonePe app, targeting the growing base of digital-first consumers.
According to the companies, the card will allow users to access UPI-linked credit card payments, with instant activation, dynamic spend tracking, and personalized offers. Customers can apply for the card through the PhonePe app and manage it digitally, including rewards, limits, and statements.
While HDFC Bank will handle the card issuance and credit underwriting, PhonePe will drive customer engagement and in-app user experience. The move is part of both companies’ broader strategy to push credit penetration in under-served and semi-urban markets, where UPI usage is already strong.
The credit card comes with zero joining fees, cashback incentives, and is designed to be compatible with PhonePe’s existing UPI infrastructure, aligning with the Reserve Bank of India’s push for wider digital adoption and financial inclusion.
PhonePe said it plans to roll out additional features, such as family sharing and BNPL (buy-now-pay-later) tie-ins, over the coming months.
Reference: EconomicTimes
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