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December 3, 2019

Walmart and HDFC Bank introduce co-branded credit card in India

Walmart India, a unit of American supermarket chain Walmart, has rolled out a co-branded credit card in collaboration with HDFC Bank.

The credit card has been launched solely for members of Best Price Modern Wholesale Stores, owned and managed by Walmart India.

Available in two variants, Best Price Save Smart & Best Price Save Max, the credit cards are supported by Diners Club International that is owned by Discover Financial Services.

Registered members of Walmart India’s ‘Best Price’ stores can use their exclusive co-branded credit card to shop in-store and online at bestprice.in.

Walmart said that the credit card has been introduced for the benefit of more than one million members, mainly kiranas, so that they can migrate towards digital payments.

Besides rewards and cashback on all purchases, the cardholders will get up to 6% discounts on their annual spends.

The card-members of Best Price Save Smart can save up to INR14,250 ($198.7) whereas the Best Price Save Max cardholders will be able to avail savings of up to INR40,247 ($561.2) per annum.

Walmart India president and CEO Krish Iyer said: “This partnership reiterates our commitment to helping our members, especially kiranas and other small businesses to prosper.

“This will help the members streamline their business processes and spend more time in their stores and serve their customers.

“By making payments through cards, our members are contributing to India’s growth as an efficient digital economy. We are delighted indeed to be taking steps in creating shared value in the country.”

Discover APAC regional managing director Annie Zhang stated: “Our agreement with HDFC Bank and Walmart India will provide their Best Price members convenient payment solutions and the ability to use the co-branded card online or in-person when shopping at Walmart India’s Best Price Stores.”

Members can submit their application directly at Best Price Stores or online at bestprice.in.

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