Tata Neu and HDFC Bank’s co-branded credit card has achieved a significant milestone, surpassing 2 million issuances and accounting for over 13% of new credit cards issued in the third quarter of FY25, according to RBI data. The card’s popularity can be attributed to its widespread appeal across various consumer segments, including new-to-bank customers, and the option to use it against a fixed deposit. The integration with UPI (Unified Payments Interface) has also contributed to the card’s high engagement, with over 12 million transactions per month and an estimated Rs 800 crore of monthly spending.
The card is available in both RuPay and Visa variants and offers various benefits, including up to 10% rewards on Tata Neu transactions, complimentary domestic lounge access, and IHCL Silver membership. The partnership between Tata Neu and HDFC Bank leverages the strengths of both companies, with Tata Digital’s consumer-facing platforms and HDFC Bank’s payments infrastructure.
Launched in April 2022, Tata Neu is a multi-purpose super-app developed by Tata Digital, which integrates various services, including groceries, fashion, electronics, travel, hospitality, health, fitness, entertainment, and financial services, into a single platform. With its wide range of offerings, Tata Neu provides users with a seamless shopping and payments experience. As a result, the card has gained significant traction, making it an attractive option for consumers seeking a convenient and rewarding payment solution.