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Equitas Small Finance Bank ties up with HDFC Bank to offer co-branded credit cards


Equitas Small Finance Bank on Tuesday announced its partnership with HDFC Bank, for a co-branded credit card. Equitas said that the partnership will draw on HDFC Bank‘s strengths in the credit card market and its substantial reach.

“As India’s largest card issuing and acquiring bank we are committed to accelerating the adoption of digitization in the country by engaging with all players in the banking and payments ecosystem,” said Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank said. “This first-of-its-kind partnership for HDFC Bank will enable us to extend our best-in-class offerings in the cards segment to Equitas Small Finance Bank’s customers and provide them with a highly rewarding credit card experience.”

HDFC Bank has a dominant share in both card issuing and acquiring business. With over 5.1 crore credit cards, debit cards and prepaid cards, every third rupee spent on cards in India happens on HDFC Bank cards. HDFC Bank also has over 21 lakh acceptance points, making it among the largest facilitators of cashless payments in the country.

The credit card can be availed in two categories. The first category is the ‘Excite Credit Card’ which offers a credit limit from Rs 25,000 to Rs 2 lakh and the second category is the ‘Elegance Credit Card’ which offers credit of over Rs 2 lakh.

“Over the last five years, we have witnessed a transformation sweeping the industry,” said Murali Vaidyanathan, Senior President and Country Head – Branch Banking – Liabilities, Products & Wealth – Equitas Small Finance Bank Limited. “There have been countless success stories of people borrowing small amounts of money while building financial assets and creating a formal financial footprint.”



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