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HDFC Bank issues record high of over 4 lakh cards post embargo

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Mumbai: HDFC Bank today announced a record of over 4 lakh credit cards issued since the embargo being lifted. The record issuance marks the aggressive growth path the Bank has charted post the embargo to re-invent and co-create its credit cards portfolio with strong products and partnerships.
The bank also announced the relaunch of 3 cards. HDFC Bank’s Millennia, MoneyBack+ and Freedom cards have been reinvented to put more power into the hands of the customers, by adding a host of new features and benefits. Creating and co-creating new card products is part of the Bank’s strategy to straddle every customer segment.
“As a leader in the cards space, we promised, we would be back with a bang. We are now pushing the pedal not only to acquire new customers, but also to enhance offerings of our existing cards,” said Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank.
“Our strategy to re-invent, create and co-create has been crafted based on the analysis of customers’ buying behaviour, the categories they spend on and the spend patterns. The months that we have spent readying and sharpening our strategy are now bearing fruit. We are ready to unveil best in class offerings and experience to our customers, just in time for festive season.”
The new card variants will be available to customers in October’21. Existing Freedom and Millennia card holders will also be able to enjoy the new benefits as well and will be notified by the bank regarding the same.
The Freedom card is targeted majorly towards the youth who are starting their career. The MoneyBack+ credit card is targeted towards middle class families who are seek value on their everyday spends. The Millennia card is targeted at the affluent, tech savvy consumer. (KNT)

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