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News on Medial
Cobranding with Tata Neu, Swiggy widens HDFC Bank cards’ reach
Economic Times
·
1y ago
Medial
HDFC Bank is capitalizing on the trend of co-branded credit cards by issuing a large number of cards in partnership with popular brands like Swiggy and Tata. This move by HDFC Bank allows customers to enjoy special offers and benefits when using these co-branded cards, enhancing their overall card usage experience.
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Related News
Tata Neu-HDFC Bank credit card crosses 2M issuances
YourStory
·
4m ago
Medial
Tata Neu and HDFC Bank's co-branded credit card has surpassed 2 million issuances, representing over 13% of new credit cards issued in Q3 FY25. The card's integration with UPI has led to significant engagement, with over 12 million monthly transactions totaling around Rs 800 crore in spending. Available in RuPay and Visa, it offers rewards and benefits. Launched in April 2022, Tata Neu is a multi-purpose super-app developed by Tata Digital.
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Tata Neu Infinity HDFC Bank Credit Card updates NeuCoin rewards on UPI transactions: Key changes explained
Money Control
·
1y ago
Medial
Starting from August 1, Tata Neu Infinity HDFC Bank credit cardholders will experience changes to the rewards program regarding UPI transactions. Previously, users earned 1.5% back as NeuCoins, but now they will earn 0.5% back on eligible UPI transactions. However, by using the Tata Neu UPI ID, users can gain an additional 1% back as NeuCoins. The maximum NeuCoins that can be earned per month will remain at 500. The credit will be distributed to the user's credit card account and Tata Neu account, depending on the transaction method. Certain transactions, such as fuel purchases and cash advances, are not eligible for UPI rewards.
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Tata’s Neu Looks To Ride The Quick Commerce Wave
Inc42
·
9m ago
Medial
The Tata group is entering the quick commerce sector in India with its ecommerce venture, Neu. Neu is launching "Neu Flash" to cater to the growing demand for instant deliveries in the country. The service will offer groceries, electronics, and fashion products to select users, putting it in competition with major players like Blinkit, Zepto, Swiggy Instamart, and Flipkart's 'Minutes'.
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Tatas to enter red-hot quick commerce space with ‘Neu Flash’
Economic Times
·
9m ago
Medial
Tata Group's ecommerce venture Neu is set to enter the quick commerce segment with Neu Flash, offering ultra-fast delivery for grocery, electronics, and fashion products. This move comes as consumer demand continues to rise in metro areas. Neu Flash will be powered by partners like BigBasket for groceries, Croma for electronics, and Tata Cliq for fashion and lifestyle products. Quick commerce is disrupting the retail industry, with players like Zomato-owned Blinkit, Swiggy Instamart, and Zepto leading the market. Tata Digital aims to tap into the online shopping trend while being cautious about heavy spending on consumer incentives.
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Cobranded credit cards to form 25% of market by FY28: report
Economic Times
·
11m ago
Medial
Cobranded credit cards are projected to make up 25% of the Indian credit card market by FY28, growing at a rate of 35-40% annually. Currently, their market share stands at 12-15%. Cobranded cards involve a bank as the issuer and a different brand as the customer acquisition channel. Examples of popular cobranded credit cards in India include Flipkart and Axis Bank, Amazon and ICICI Bank, and Swiggy and HDFC Bank. Cobranded cards have higher activation rates and spending averages compared to traditional cards. The Reserve Bank of India has implemented stricter regulations for this sector to manage risk and ensure customer protection.
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ONDC to add banks, fintechs to take credit services to last mile
Economic Times
·
1y ago
Medial
Open Network for Digital Commerce (ONDC) is set to integrate banks such as HDFC Bank, IDFC First Bank, and Karnataka Bank, as well as fintech firms like Fibe, to offer unsecured personal loans and invoice loans targeting small merchants in underserved areas of India. ONDC is also piloting credit disbursals through partnerships with Tata Neu, Paisabazaar, DMI Finance, and Aditya Birla Finance. Additionally, ONDC plans to introduce business-to-business credit services and explore small ticket, short tenure loans based on alternative data. ONDC is also expanding into insurance and investments segments.
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Key financial changes in August: Tax deadline, faster cashless insurance approvals and new credit card rules
Money Control
·
11m ago
Medial
In August, individual taxpayers who filed their returns in July need to verify their returns within 30 days of filing them online. Non-life insurance policyholders can expect cashless authorisation from insurance companies within one hour of request receipt. The Securities and Exchange Board of India (SEBI) has proposed a new risky asset class for mutual funds. HDFC Bank has revised terms on its credit card portfolio, including new fees and charges. Tata Neu Infinity HDFC Bank credit card users can earn NeuCoins on eligible UPI transactions. Shoppers are advised to spend smartly during the festive season, redeeming reward points and avoiding unnecessary purchases.
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Tata Digital logs Rs 37,355 crore aggregate GMV in FY24, as turnover rises, loss narrows
Economic Times
·
11m ago
Medial
Tata Digital, the ecommerce arm of the Tata Group, reported a gross merchandise value (GMV) of Rs 37,355 crore in FY24. The super app Tata Neu had 20.76 million transacting customers during the year. Additionally, Tata Digital expanded its offerings by launching food delivery and its co-branded credit card reached 1.18 million issued cards. The company's total turnover doubled to Rs 420.5 crore, while losses narrowed. Tata 1mg achieved profitability, while BigBasket and 1mg narrowed their losses. Tata Digital is developing a 'value fashion' offering to compete with Flipkart, Amazon India, and Ajio.
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Tata Group in talks with Uber for strategic partnership for app, says report
Livemint
·
1y ago
Medial
The Tata Group is reportedly in discussions with Uber to establish a strategic partnership aimed at increasing traffic volumes and engagement on Tata's digital platform, Tata Neu. This collaboration may involve integrating Uber's services as an 'anchor app' within Tata Neu, which is positioned as a 'super app'. Tata Digital, however, denies any ongoing talks, and Uber has not commented on the matter yet. The potential partnership could help Tata Neu attract more daily users and expand its product offerings.
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ONDC is bulking up financial services play with consumer-facing apps
Economic Times
·
1y ago
Medial
Tata Neu and Paisabazaar are conducting pilot studies to enable credit disbursals through the ONDC network. Lenders such as DMI Finance and Aditya Birla Finance have already integrated with ONDC to provide loans. Tata Neu and Paisabazaar will serve as consumer-facing applications to source customers for these lenders. The credit on ONDC pilot has recently begun with five LSPs.
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