|Country's largest airlines Jet Airways has launched a co-branded credit card with HDFC Bank. This card targets the frequent flyers of the airlines- JetPrivilege members.
This came after the airlines recently ended its 12 year long co-branded card with Citibank, and intends to provide affordable air travel to the consumer.
"These co-branded cards will mutually work towards strengthening customer relationship and is a win-win for JetPrivilege members, HDFC Bank customers and our mutual guests," said Nikos Kardassis, CEO Jet Airways.
Both Jet Airways and HDFC Bank are leaders in airlines loyalty programme and credit card market share respectively. This is the first time that the bank has entered into airlines co-branded credit card segment. Premium variant would provide additional lifestyle benefits to the cardholders.
The bank holds nearly one-third of the credit card market share and its portfolio as of first quarter was at Rs. 10,000 crore. Widening the offering would help the bank to reach more customers across various segments, stated Mr. Parag Rao, VP and Business Head for Credit Cards.
The card will come in three variants- The World, the Titanium and the Platinum, and would be exclusively MasterCard. Both Jet Airways and HDFC Bank will be free to enter co-branding agreements with other banks/airlines.