PhonePe and HDFC Bank Launch Co-Branded RuPay Credit Card with UPI Integration and Exciting Rewards
Varahi nedia.com online news,,Hyderabad, June 26, 2025:PhonePe, India’s leading digital payments platform, has partnered with HDFC Bank, the country’s largest credit card issuer, to launch the
Varahi media.com online news,Hyderabad, June 26, 2025:PhonePe, India’s leading digital payments platform, has partnered with HDFC Bank, the country’s largest credit card issuer, to launch the PhonePe HDFC Bank Co-Branded Credit Card, marking PhonePe’s entry into the co-branded credit card space. This new RuPay credit card line combines the convenience of UPI payments with exclusive rewards, delivering a seamless and rewarding experience for users.
Available in two variants — ‘Ultimo’ and ‘UNO’ — the card offers cashback and reward points on everyday categories such as bill payments, mobile recharges, travel bookings, groceries, cabs, and online shopping, particularly when transacted through the PhonePe platform.
Ultimo Cardholders Enjoy:
- 10% reward points on PhonePe app spends including bill payments, recharges, travel bookings, and purchases on Pincode, PhonePe’s hyperlocal delivery platform.
- 5% reward points on top online merchant spends.
- 1% reward points on all UPI Scan & Pay transactions using the credit card.
- Two complimentary domestic lounge accesses per quarter.
Users can apply directly through the PhonePe mobile app via a fully digital application process. Once issued by HDFC Bank, the card can be linked with the PhonePe app for UPI payments, card management, and bill payment – all in one place. The rollout of the card will happen in phases, and will be available to eligible PhonePe users.
Leadership Commentary
Sonika Chandra, Chief Business Officer – Consumer Payments, PhonePe, said:
“We’re thrilled to launch our first co-branded credit card in collaboration with HDFC Bank. This card brings value to customers by offering high reward points on everyday categories like bill payments and travel. By integrating with UPI, we’re making credit more accessible and user-friendly for millions of our users.”
Parag Rao, Country Head – Payments, Liability Products, Consumer Finance & Marketing, HDFC Bank, added:Our collaboration with PhonePe is aimed at expanding credit access and enhancing the user experience by combining HDFC Bank’s trusted credit infrastructure with PhonePe’s tech-driven ecosystem. Through UPI, this card becomes more relevant and rewarding in today’s fast-evolving digital payment landscape.”
Revolutionizing Credit Card Usage via UPI
This partnership is set to redefine how Indian consumers use credit cards by merging the flexibility of credit with the ease of UPI payments. With an expansive UPI merchant network and highly rewarding features, the PhonePe HDFC Bank co-branded card is poised to elevate financial convenience for users across the country.
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