In an effort to leverage each other’s strengths in their respective field, Idea Cellular Ltd and HDFC Bank on Tuesday announced a nationwide marketing alliance and launched the HDFC Bank-Idea co-branded credit card for their customers.
The co-branded product will provide a host of benefits to the users, like a 2 per cent annual bonus on talktime and up to 8 per cent cash back on Idea post paid bill payment through the credit card.
Speaking on the occasion, Vikram Mehmi, CEO, Idea Cellular Ltd, said, “Telecom and credit card markets are both growing at a scorching pace in India today. We believe that the HDFC Bank-Idea alliance will provide extra value for the existing customers and add impetus to new customer acquisitions for both companies.”
HDFC Bank Managing Director, Aditya Puri, said that the launch of the HDFC Bank-Idea credit card would offer multiple benefits to its bank customers as well as Idea subscribers.
“This alliance of two leading verticals with over 12 million customers is in line with our endeavour to reward patronage and loyalty through innovative product offerings,” he added.
Observing that telecom co-brand relationships were one of the most successful ones in the world from a payment card perspective, Santanu Mukherjee, Country Manager, South Asia, Visa International, said, “They provide superior value to cardholders who are telecom customers and are a robust channel for the operators to build customer loyalty and a great business opportunity for the bank.”
The co-branded credit card will be available in Gold and Silver variants for Rs 2,000 and Rs 700, respectively.