Swiggy joins the co-branded credit card market

The online food delivery giant is reportedly in talks with HDFC Bank to launch a co-branded credit card. The card is expected to offer cashback and other benefits to Swiggy users.

Swiggy's move comes after its rival Zomato launched a co-branded credit card in 2020. The Zomato-RBL Bank credit card offers cashback on food orders, dining out, and other travel expenses.

The co-branded credit card market is growing rapidly in India. Several other companies, including Amazon, Flipkart, and Ola, have already launched their own co-branded credit cards. These cards offer a variety of benefits, such as cashback, discounts, and rewards.

The popularity of co-branded credit cards is due to the fact that they offer both the benefits of a credit card and the benefits of a loyalty program. For example, the Swiggy-HDFC Bank credit card is expected to offer cashback on Swiggy orders, as well as access to Swiggy One, the company's premium membership program.

The launch of the Swiggy-HDFC Bank credit card is a sign that the co-branded credit card market is maturing in India. As more and more companies launch their own co-branded credit cards, consumers will have more choices and benefits to choose from.

Here are some of the benefits that Swiggy users can expect from the co-branded credit card:

• Cashback on Swiggy orders
• Access to Swiggy One membership
• Other exclusive benefits, such as discounts and rewards

The co-branded credit card is expected to be launched in the coming months. More details about the card, such as the joining and annual fee, will be announced closer to the launch date.