Swiggy's credit card offers 10% cashback, free Swiggy One membership
Leading food delivery service Swiggy has announced a co-branded credit card in partnership with HDFC Bank. The credit card, which is powered by Mastercard's payment network, provides cashback offers on Swiggy orders as well as purchases made through partner platforms such as Amazon, Adidas, Zara, Flipkart, and Uber. Here are more details on how to apply for the credit card and its benefits.
Why does this story matter?
A co-branded credit card provides a way for businesses to broaden their revenue streams. Not just that, it serves to attract customers by providing benefits and having more customers translates to more revenue in general. Swiggy aims to do just that with its credit card. Interestingly, Zomato also tried a similar strategy in 2020 but didn't see promising results.
Users can get 10% cashback on Swiggy orders
The credit card offers 10% cashback on payments made against Swiggy's food delivery and grocery delivery services. The cardholders can also get a 5% cashback on shopping across 1,000 partner platforms, including Amazon, Ola, Uber, Nike, Adidas, BookMyShow, Flipkart, Myntra, Nykaa, and more. The cashback will be reflected in the form of Swiggy Money which can be used for other transactions.
Users can also get a couple of Mastercard benefits
In addition, the card provides 1% cashback on all other spends and a free 3-month subscription to Swiggy One, which does not press delivery charges. This program offers benefits across food, grocery, dining out, and pick-up and drop services. Eligible users can also avail of World Tier Mastercard benefits like free stay, complimentary loyalty memberships, and more.
You can track the cashback from the Swiggy App
According to the official blog, the cashback will be credited to Swiggy Money within 10 days of your monthly statement date. You can track the details from the 'My Accounts' section on the Swiggy App itself.
How to apply for the credit card?
The co-branded credit card will be released in a phased manner via the Swiggy app over the next 7-10 days, after which all interested customers can apply for it. So far, the company has not shared any eligibility details. You can apply via the Swiggy app or the HDFC Bank website, regardless of whether you have an HDFC Bank credit card.
'The all-encompassing credit card makes shopping more rewarding and convenient'
"We recognize that modern-day consumers actively seek rewards, offers, and cashback programs that add value to their spending," said Rahul Bothra, Swiggy CFO. "Keeping this in mind, we have launched this all-encompassing card in partnership with HDFC Bank and Mastercard that makes everyday shopping moments across a range of categories more rewarding and convenient."
Zomato discontinued its co-branded credit card in May
In 2020, Zomato partnered with RBL Bank for its co-branded credit card. Two variants were introduced—Classic and Black Edition. However, that partnership came to an end earlier this year in May. Both card variants were replaced with RBL Bank Shoprite credit cards.
