HDFC Bank, India’s largest private sector bank, announced the launch of a new range of co-branded credit cards with Retailio, aimed largely at chemists and pharmacies in the merchant market. Retailio is the largest B2B pharma marketplace in the country. It is a useful app that is having a significant digital impact on the Pharma supply chain management in India. Chemists, retailers, distributors, pharmacists, and hospitals can use the Retailio mobile application and web interface to place orders with their respective distributors.
Features of credit cards with Retailio:
Under the Retailio Cobrand scheme, the card will include the following features:
- Interest-free credit duration of up to 50 days
- Reward points on all purchases and spending across all merchants, as well as annual milestone incentives such as 500 Bonus Reward Points for spending 25,000 per month and 1,500 Bonus Reward Points for spending 50,000 per month (exclusive for RIO club members),
- 5% Cashback on all business necessities such as utility, telecom, government, and tax payments (capped at Rs.250 per month)
- Other Smartbuy, SmartPay, and Payzapp subscription offerings
- Free and low-cost EMI options for all credit card customers, as well as term loan eligibility for business purposes
With over 6 crore credit, debit, and prepaid cards covering every market sector, HDFC Bank is the market leader in the payments ecosystem. Retailio has a network of over 1000 health care and pharmaceutical enterprises, 3000 pharmaceutical distributors, 1 lakh pharmacies, hospitals, and nursing homes in over 1000 locations.