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HDFC Bank, CSC launch Credit Card for Small Traders, Village Entrepreneurs

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HDFC Bank and CSC Tuesday launched a co-branded ‘Small Business MoneyBack Credit Card’ for small traders and village level entrepreneurs (VLEs).

The credit card is specifically designed for CSC’s VLEs, and VLE-sourced customers, and will give users easy access to credit for their day-to-day business expenses, according to a statement.

Launched by HDFC Bank MD Aditya Puri and CSC Chief Dinesh Kumar Tyagi, these personalised cards were handed out to a few women entrepreneurs during the occasion, said a report by PTI

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HDFC Credit Card village entrepreneur

CSCs act as access points for delivery of various services and there are 3.6 lakh such centres operating across the country.

At present, as much as Rs 70,000 crore worth of business is transacted through the network of Common Services Centres (CSCs), which apart from providing a platform for essential government and public utility services also deliver a range of social welfare schemes, financial services, education and skill development courses, healthcare, agriculture services and digital literacy.

In in July 2018, HDFC Bank and CSC had entered into a pact as part of which the bank will offer various products and services in remote locations to VLEs enrolled with CSCs.

Last year in May, fintech startup ePayLater partnered with IDFC Bank to bring instant digital credit to individuals transacting online and offline, using BHIM UPI using ePayLater’s ‘Buy Now, Pay Later’ thereby aiding small businesses and merchants alike.

In January 2018, IndusInd Bank and Dynamics Inc. together launched India`s first battery-powered, interactive payment cards, which was announced at the 2018 Consumer Electronics Show (“CES”).

Last November, Amazon and ICICI Bank together launched credit card for its Prime customers that leverages shopping expenses into reward points. The co-branded credit card launched is closely tied with ‘Amazon Pay’, the online payment platform of Amazon Christened, ‘Amazon Pay ICICI Bank Credit Card’.

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