HDFC Bank partners with B2B pharma market place Retailio to launch co-branded credit cards, Aims to reach 1.4 lakh customers in initial phase

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Mumbai, May 23, 2022 (GNI): HDFC Bank, India’s largest private sector bank and Retailio, India’s largest B2B pharma marketplace today announced the launch of a new range of co-branded credit cards. These B2B credit cards are primarily targeted at chemists and pharmacies in the merchant segment. The credit cards will be available to over 1 lakh customers of Retailio from their existing merchant base and as well as new customers.

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The partnership is likely to cover over 1.4 lakh merchants in the first phase of its roll-out. The range of cards will deliver superior value and experience to customers by leveraging the core strength of each partner. HDFC Bank is the leading player in the payments ecosystem with a base of over 6 crore credit, debit and prepaid cards addressing every market segment. Retailio has its presence in over 1000 cities along with a network of over 1000 Health care and Pharma companies, 3000 Pharmaceutical distributors, 1 Lakh pharmacies, hospitals & nursing homes.

Under the Retailio Cobrand program the credit cards will offer:

• up to 50 days of Interest-free credit period
• reward points on spend and purchases through all merchants,
• annual milestone benefits like 500 Bonus Reward Points on spending Rs 25,000 per month and 1,500 Bonus Reward Points on spending Rs 50,000 per month (exclusive for RIO club members),
• 5% Cashback on all Business essentials like Utility, Telecom, Govt. & tax payments (capped at Rs.250 per month)
• 1% fuel surcharge waiver between Rs.400 to Rs.5000 of Fuel purchase and up to Rs. 250 per statement
• Other Subscription offers on Smartbuy, SmartPay and Payzapp offer,
• no cost & low-cost EMI options for all customers on their credit card along with term loan eligibility for business purposes.

As part of the program, members will also receive activation card benefits like 1000 bonus pts on Activation of the card within the first 90 days while the RIO club members will get an additional Gift voucher worth Rs.500 upon activating within 90 days, stated in the press release.ends GNI SG