HDFC Bank Launchs of Business Credit Card Series for Self-Employed Community
HDFC Bank announced the expansion of its SME Payment Solutions with the launch of business range of credit cards customized for business owners, entrepreneurs, and freelancers. The credit cards will be available in 4 variants – BizFirst, BizGrow, BizPower, and BizBlack.
The business credit card range offers a best-in-class interest-free credit cycle of 55 days, savings on core business spends like utility bills, GST, income tax, vendor payments, business travel, and business productivity tools.
Tailored to address both payable and receivable needs of businesses, the Bank has introduced a unified digital platform which consolidates all payables such as vendor payments, utility bills, and statutory payments etc. The platform provides a detailed dashboard with one view of payments made and accepted, for better cash-flow management.
The new range of business credit cards is envisioned to cater to the requirements of the self-employed community including MSMEs, startups, professionals, and freelancers.
Some of the key features of the business credit cards include up to 55 days free credit period (industry best), up to 10X reward points on Business Spends, fire & burglary, cash in safe & transit, electronic equipment and EMI and Loan on card facility.
Parag Rao, Country Head – Payments, Liabilities Products, Consumer Finance & Marketing HDFC Bank said, “Our business range of credit cards, is designed to be a practical game-changer in supporting their everyday business needs.”
HDFC Bank is among the country’s largest facilitators of cashless payments with 5.30 crore debit cards and 2 crore credit cards as of January 2024. HDFC Bank has the largest market share by spends in the credit card business of 27.1% as of December 2023. KNT
