~Co-branded cards to target over 9 million Shoppers Stop “First Citizen” customers~
Mumbai, March 30, 2022: HDFC Bank, India’s largest private sector bank and Shoppers Stop, India’s leading fashion and beauty destination have joined hands to launch co-branded credit cards. The credit cards will be available to over 9 million “First Citizen” customers of Shoppers Stop along with HDFC Bank customers, with an endeavour to provide an elevated and rewarding shopping experience. The partnership draws on HDFC Bank’s strengths as India’s leading issuer of credit cards and Shoppers Stop position as a reputed retail brand.
The launch was announced at an event in Mumbai by Parag Rao, Country Head – Payment Business, Consumer Finance, Technology and Digital Banking, HDFC Bank and Venu Nair, Customer Care Associate, MD & CEO from Shoppers Stop.
Speaking at the launch event, Parag Rao, Country Head- Payment Business, Consumer Finance Technology and Digital Banking, HDFC Bank said, “As part of our broader strategy to comeback with a bang, we are keen to partner with multiple players in our eco-system from travel, healthcare, fintechs and retail to provide best-in-class payment solutions. Shoppers Stop has been a household name in India for decades and we are delighted to partner with such a trusted brand. Our partnership will enable their customers to get a highly rewarding shopping experience catering to distinct needs. As India’s leading credit card issuer, we are committed to accelerate the adoption of cards and digital payments across the country, thereby reinforcing our leadership in the segment.”
“We are absolutely delighted to partner with one of India’s strongest and favourite financial institution.” said Venu Nair, Customer Care Associate, Managing Director and CEO at Shoppers Stop. “Our co-branded cards with HDFC Bank will bring unmatched benefits to our First Citizens. They will be able to avail discounts and offers provided by the bank and redeem points at our stores. This is a win-win-win proposition for our customers, Shoppers Stop and HDFC Bank.”
The credit cards will be available in two categories, Shoppers Stop HDFC Bank Credit Card and Shoppers Stop BLACK HDFC Bank Credit Card. The reward points will differ depending upon the card, with Black Card ensuring higher loyalty points. Customers can redeem their points at Shoppers Stop in-store, online or with their partner Estee Lauder Group stores in India while making the purchases.
Premium card holders will get the following benefits:
- 1% fuel surcharge waiver at all fuel stations across India with a limit of Rs.500 per month.
- Enjoy accelerated savings and benefits using HDFC Bank platform and portfolio offers via PayZapp and SmartBuy.
- Access over 1,000 airport lounges across India.
- Provide accidental air death cover worth Rs 3 Crore, loss card liability of up to Rs 9 Lakh, and emergency overseas hospitalization cover up to Rs. 50 Lakh
Benefits of Shoppers Stop HDFC Bank Credit Card:
- It offers 6 Shoppers Stop First Citizen Points (SSP) on Private Brands exclusively available at Shoppers Stop capped at 500 SSP per month
- 2 SSP on spends on other brands of Shoppers Stop and outside (except fuel and wallet) without any cap
- Annual milestone benefits include 2000 SSP on spending Rs 2 Lakh per annum, 1% fuel surcharge waiver at all fuel stations across India up to Rs. 250 per month
- Card holders can enjoy accelerated savings and benefits using HDFC Bank platform and portfolio offers via PayZapp and SmartBuy
Benefits of Shoppers Stop BLACK HDFC Bank Credit Card:
- Members will get complimentary Shoppers Stop First Citizen Black Membership worth Rs 4500 that will earn them 20 SSP on Private Brands at Shoppers Stop and 15 SSP on all other brands of Shoppers Stop, including premium brands
- They would also get 5 SSP on other spends (except fuel and wallet), without any cap
