New Delhi: Tata Neu and HDFC Bank today announced a significant milestone: the Tata Neu HDFC Bank Credit Card has surpassed 2 million cards issued, solidifying its position as one of India’s preferred rewards credit cards. This achievement underscores the card’s remarkable success in delivering value and a seamless rewards ecosystem to customers across the country.
Since its launch in August 2022, the Tata Neu HDFC Bank Credit Card has made significant strides, loved by its users for offering the most simple and transparent rewards ecosystem in the Indian credit card market. With a significant share of new cards issued (over 13% net new cards issued in Q3 FY25-RBI), it has rapidly gained the trust and loyalty of customers across the country.
Key Highlights:
- 2 Million+ Cards Issued: Demonstrating strong market acceptance and customer preference.
- 13%+ Market Share: Captures over 13% of net new cards issued in the industry Q3 FY25 (as per RBI data), one of the highest for any co-branded card in India.
- Unified Rewards Ecosystem: Seamlessly integrates rewards across the Tata Neu ecosystem spanning daily essentials like groceries, medicines, bill payments, UPI, gift cards, and financial services to lifestyle-oriented offerings like fashion, consumer electronics, travel, and entertainment.
- High Engagement: The UPI feature is a major success, with a high run-rate of 12 million+ transactions a month, amounting to more than INR. 800 Crores of spends monthly on UPI.
- Top Spending Categories: Grocery, fuel, and utilities constitute the top spend categories, representing almost 30% of total spends, highlighting that this is a top-of-the-wallet card for customers which meets the requirements of everyday spends of customers.
- Diverse Customer Segments: NeuCard is also offered against a Fixed Deposit to New to Bank Customers, in an end-to-end digital journey enabling it to cater to wider customer segments including students, retirees, home-makers and self-employed segments.
- High Value Spends: With unusually high spends in the Electronics and Jewellery categories, NeuCard showcases the strong value proposition and appeal to discerning customers.
- Strong Digital Adoption: Seamless digital onboarding, instant approvals, and contactless transactions cater to modern digital lifestyles.
- Nationwide Reach: Strong adoption in both metropolitan and smaller cities across demographics, reflect its broad appeal.
“At Tata Digital, we are dedicated to revolutionizing the credit card experience by making benefits more rewarding and transparent for our customers,” said Gaurav Hazrati, Chief Business Officer, Financial Services, Tata Digital. “Crossing 2 million Tata Neu HDFC Bank Credit Cards issued is a strong testament to the trust our customers place in NeuCard. We remain committed to continuously enhancing the NeuCard experience, delivering even greater value to our growing community of NeuCard holders.”
Every transaction with the Tata Neu HDFC Bank Credit Card unlocks a universe of rewards, including up to 10% savings, accelerated NeuCoin earnings, and exclusive privileges across travel, fashion, electronics, groceries, and more. The card’s seamless, technology-driven experience, featuring digital onboarding, instant approvals, and contactless payments, caters to the modern digital lifestyle.
Mr. Parag Rao, Country Head – Payments, Liability Products, Consumer Finance and Marketing, HDFC Bank, ” As India’s leading card issuer, it is our endeavour to create a customised offering for every customer segment, providing best-in-class payment solutions. We are delighted that the Tata Neu HDFC Bank Credit Card, with its digital-first approach and strong value proposition, has been able to enhance the user experience and transform everyday spending into rewarding moments.”
Cardholders enjoy up to 10% back as NeuCoins on non-EMI spends on Tata Neu and up to 5% back as NeuCoins on partner Tata Brands (including in-store), 1.5% back as NeuCoins on eligible non-Tata and merchant EMI spends, and additional rewards on UPI transactions. Complimentary domestic airport lounge access, and the coveted IHCL Silver Membership for cardholders further enhance the card’s appeal.
The Tata Neu HDFC Bank Credit Card is available in both RuPay and Visa variants, making premium digital payments accessible and rewarding for customers across India.
About Tata Digital:
Tata Digital is a future-ready company that focuses on creating consumer-centric, high-engagement digital products. Tata Neu, its core app, aims to be the trusted partner of every consumer by providing a holistic presence across various touchpoints. It offers a one-stop shop for the consumer’s daily needs and aspirations with essentials like groceries, medicines, bill payments, UPI, gift cards, and financial services such as loans, insurance, investment, and India’s most popular co-branded credit card, to lifestyle-oriented offerings like fashion, consumer electronics, travel, and entertainment. Tata Digital includes subsidiaries like Supermarket Grocery Supplies Pvt Ltd (BigBasket), Infiniti Retail (Croma), Tata 1MG Healthcare Solutions Pvt Ltd, Tata Unistore Limited (Tata CLiQ), Tata Payments Limited, Tata Fintech Pvt. Ltd., among others. Founded in March 2019, Tata Digital is a wholly owned subsidiary of Tata Sons Private Limited. For more information, visit www.tatadigital.in.
