HDFC Bank and Flipkart Wholesale Launched Co-Branded Credit Card for B2B Customers

On March 15, private lender HDFC Bank and Flipkart Wholesale announced the launch of an industry-first co-branded credit card available only to Flipkart Wholesale members. According to the specifics, the credit card will operate on the Diners Club International network and will be accepted in more than 200 countries worldwide where Diners Club cards are accepted.

As part of this agreement, registered Flipkart Wholesale members will get 5% cash back - an industry-first incentive - on Flipkart Wholesale online purchases. Additional advantages include a Rs 1,500 activation reward with no joining cost, as well as further cashback on utility bills and other spending.

Flipkart Wholesale is dedicated to revolutionising the Kirana retail environment via the use of technology and innovation. As part of this strategy, we focus on providing small merchants with simple and appropriate loan choices to help them overcome financial issues. We will assist smaller shops better manage their cash flows by launching these credit cards, while also ensuring that the benefits of digitalization permeate the whole B2B sector. We are delighted to join forces with HDFC bank to enable finance for our members and provide an industry-leading cashback of 5% on online purchases, which will accelerate their growth trajectory and empower them to build a more sustainable business, said Flipkart Wholesale's Business head Koteshwar L N.

HDFC Bank's Country Head Parag Rao, on the other hand, adds that with this cooperation with Flipkart Wholesale, they intend to serve even more Kirana stores and small merchants, assisting them to optimise their transactions, simplify their operations, and provide a gratifying experience.

Partnering with HDFC Bank and Flipkart Wholesale would give a useful product to small and medium-sized enterprises in India, as well as enhance the benefits and capabilities Diners Club provides in the region, according to Annie Zhang, Managing Director, Asia Pacific, at Diners Club International.

According to HDFC Bank, the launch of co-branded credit cards would improve access to credit and expedite the adoption of digital payments while providing several benefits to smaller retailers in India.

Koteshwar L N, Business Head of Flipkart Wholesale stated, By the launch of these credit cards, we will assist smaller merchants manage their cash flows better while ensuring that the advantages of digitalization percolate throughout the broader B2B ecosystem.

The Indian economy is supported by SMEs. We intend to help Kirana shops and small merchants optimise their transactions, manage their operations, and offer a gratifying experience through this cooperation with Flipkart Wholesale, said Parag Rao, Country Head, Payments and Consumer Finance Technologies and Digital Banking, HDFC Bank.

Members may apply for the credit card in Flipkart Wholesale shops or through the Best Price Flipkart Wholesale app. In addition, HDFC Bank will set up dedicated booths within Flipkart Wholesale shops to handle credit card applications and provide associated customer assistance.