ICICI Bank, on July 20, announced the co-branded credit card launch with Hindustan Petroleum Corporation (HPCL), continuing its encouragement in the credit card segment.
Earlier this month, the private sector lender said that it has published more than 2 million Bank Icici Amazon credit cards, since it was launched in October 2018, making it the fastest co-branded credit card to cross this country’s milestone in this country.
Super Saver Super Saver ICICI credit card Bank-HPCL will offer prizes and benefits to customers in fuels and other categories, while paying electricity and cellular bills, and in department stores such as Big Bazaar and D-Mart, and e-commerce , and e-commerce, and e-commerce portal.
Banks say that, usually, similar credit cards offer accelerated benefits to expenditure in one category. “This card breaks the barrier because it allows customers to save every transaction they make. We believe that this card will empower customers to save more while enjoying the convenience of digital payments,” said Sudiptop Roy, head, unsecured asset, ICICI Bank.
ICICI Bank has been among the leading credit card publishers in the past few months, especially after the Reserve Bank of India (RBI) blocks its larger rivals, HDFC Bank, from issuing new credit cards in December 2020. ICICI share on a new credit card issued on December 2020.
In FY21, ICICI Bank obtained a gradual market share of 32.4 percent, followed by SBI cards at 30.6 percent, according to the latest report by Motilal Oswal Financial Services (MOFSL).
Icici Bank focuses on the Credit Card category from an increase in profit from customers who rotate or staggered or staggered, he told analysts on April 24. “Credit cards are a very profitable portfolio and on your credit card making money to spend money. And some money for revolvers,” said Anup Bagchi, Executive Director, ICICI Bank.
“Our approach doesn’t just grow a book on a credit card. We want to have a healthy mixture to make primary customers, not only have a large spendor but also episodic revolver,” Bagchi added.
HDFC Bank, however, continues to be a market leader in terms of spending cards. On June 30, the bank said he was preparing to ensure that he took back the position of the pole in terms of the applicable card and also increased his expenses in the market share, after the embargo was appointed.
“We have used our very large sales personnel and focus on portfolio customers and we have organized and honed our skills in terms of managing customer expectations, focusing on many improvements, better customer service, better, etc., “Said Parag Rao, Head of Group, Payment, Consumer Finance, Digital Banking & IT, HDFC Bank.