HDFC Bank ties up with Indigo to offer co-branded credit card

HDFC Bank has signed an agreement with IndiGo in order to launch a co-branded credit card. Labelled Ka-ching, the card will offer benefits like complimentary air tickets, lounge access, 5% cashback or reward points on Indigo bookings, and 3% cashback on dining, grocery and entertainment, the companies stated.

Parag Rao, head of the cards business at the bank, said, “Around 20% of its total cards are co-branded, and such cards see around 30% more spending.
Rao said, “Travel and hospitality contribute 12-13% of total spend on the bank’s credit cards. Regarding the delinquency rate in the cards business, Rao said like the parent HDFC Bank, which has the best asset quality with under 1.5% bad loan levels, cards business also has the lowest NPA levels. He, however, did not quantify it in percentage.

IndiGo Chief Commercial Officer William Boulter said, “This is the first such tie-up for the airline and expressed hope that Ka-ching card will help it increase customer satisfaction.”