PhonePe Rolls Out Its First-Ever RuPay Credit Card With HDFC Bank: What's In It For Users?

In its maiden entry into the co-branded credit card segment, PhonePe has partnered with HDFC Bank to launch a select range of RuPay credit cards. PhonePe HDFC RuPay credit cards come with a wide range of cashback and reward benefits for users and provide additional benefits on UPI transactions.

People can also link these co-branded credit cards with their UPI to make online payments conveniently, said PhonePe in its press release on Thursday. These credit cards also offer special benefits on UPI spends on the PhonePe platform. These RuPay card will be rolled out to eligible PhonePe users in a phased manner.

"Our partnership with PhonePe allows us to tap into a segment of digitally native consumers, making credit cards more rewarding and widely usable, especially via UPI-an interface that has become central to India's digital payments ecosystem. With this co-branded card, users get the best of both worlds with our trusted credit card platform and PhonePe's customer-centric digital experience," said Parag Rao, Country Head - Payments, Liability Products, Consumer Finance & Marketing, HDFC Bank.

PhonePe HDFC Bank RuPay Credit Cards Key Features

These credit cards come in two special variants, ie Ultimo and UNO variants. The card not only helps in providing conventional benefits on spending on shopping, travel bookings, etc. It also helps in providing additional benefits on UPI payments.

Special benefits

These credit cards offer a wide range of benefits in spending categories like recharge, bill payments, travel, online shopping, groceries, and cabs.

UPI Integration

The RuPay credit card users can also integrate their credit card with their existing UPI accounts for faster payments. Not only this, they can also enjoy offers on their credit card transactions via extensive merchant network enabled on UPI QRs.

10% Rewards For PhonePe Customers

The credit card also offers 10% reward points across select categories like recharges, travel bookings, etc to PhonePe customers. This scheme is applicable mainly in the 'Ultimo' variant of the PhonePe HDFC Bank RuPay credit card.

Rewards For Ultimo credit card users

Credit card users can get up to 10% reward points on PhonePe app spends across categories like bill payments, recharges, travel bookings via PhonePe and purchases on Pincode, a hyperlocal delivery app by PhonePe. Similarly, they can also get 5% reward points on spending with leading online merchants and 1% reward points on all UPI Scan & Pay transactions using the card. In addition to reward points, they also have access to two domestic airport lounge accesses per quarter.

Sonika Chandra, Chief Business Officer, Consumer Payments commented on the exclusive benefits of the credit cards for PhonePe users, "This card is positioned to offer PhonePe customers value on their regular spends, by giving them 10% reward points across select categories like bill payments, recharges, and travel bookings. Additionally, consumers can use this card seamlessly across millions of UPI merchants. We are confident that our strategic partnership with HDFC Bank, coupled with the benefits that this card offers will redefine the credit card experience for millions of Indians."