Co-branded telco-and-bank debit cards for India
The New Delhi, India-based private sector bank, HDFC Bank, has joined forces with cellular service provider, Escotel, to launch a new 'HDFC Bank Escotel' co-branded loyalty debit card, which offers customers benefits from both companies.
For those who sign up for the new card, HDFC will waive its 1% processing fee on personal loans and its 2% fee on two-wheeled transport loans. Moreover, both HDFC Bank and Escotel will donate 2 Rupees (approx. US$0.05) to PETA's charitable Compassionate Citizen Programme for every co-branded card issued in the Kerala region.
Escotel customers, whether prepaid or post-paid, can obtain the card for a fully refundable (against talktime used) charge of 150 Rupees (approx. US$3.25). Cardmembers will also be awarded 1 loyalty point for every 100 Rupees (approx. US$2.20) spent using the debit card at merchant outlets, plus an additional point for all payments on the card at Escotel outlets.
Personal accident cover of 200,000 Rupees (approx. US$4,360) starts one month after the first usage of the card at merchant outlets, and there are special discounts and value additions at restaurants, apparel stores, and other retailers.
Among the benefits offered to post-paid mobile phone users is the elimination of the 532 Rupees activation fee, plus free national roaming for life. Prepaid customers are instead offered a 50 Rupee talktime credit after their first five recharges.