HDFC Bank, Snapdeal launch e-commerce credit card

HDFC Bank and Snapdeal on Monday launched the country's first co-branded e-commerce credit card in partnership with Visa.

Snapdeal said that the move is aimed at encouraging more people from tier-II and tier-III cities to go for digital payments.

Though the e-commerce website Snapdeal has 70 per cent of its customers from these cities, most of them go for cash on delivery (CoD) mode of payment for lack of understanding about the digital payment system, it said.

Snapdeal said that its customers can apply for the co-branded credit card through the company website, mobile site or app. The eligibility and Credit Information Bureau (India) Limited (CIBIL) checks will be conducted instantly for faster processing, it said.

Snapdeal will also reward customers who make payments via the co-branded credit card .