India’s second largest private sector lender, HDFC Bank and e-commerce company Snapdeal have jointly launched co-branded credit card. The card is aimed at getting Snapdeal’s customers, 70 per cent of whom are from smaller cities and towns, to make online payments instead of availing the cash on delivery option.
A customer can apply for the card from Snapdeal’s website, mobile site or mobile application. The applicant’s credit eligibility will be checked instantly. Bank credit card will help customers from tier 2 and 3 markets. For faster processing of application, the eligibility & CIBIL checks will be conducted instantly while customer is filling the application form.
- Snapdeal is the fastest growing e-commerce marketplace in India.
- Snapdeal.com was started in February 2010 as a daily deals platform but expanded in September 2011 to become an e-commerce company via a marketplace model.
- The largest investor of Snapdeal is Softbank with investments worth $627 million in fresh capital in October 2014.
- HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. Incorporated in 1994, it is the fifth largest bank in India as measured by assets.
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