Times Internet in association with HDFC Bank launches 'Times Points HDFC Bank Debit Card

Times Internet in association with HDFC Bank launches ‘Times Points HDFC Bank Debit Card’ Mumbai, August 11, 2016: Times Internet, the digital arm of The Times of India group, and HDFC Bank Ltd, have launched an exclusive co-branded debit card ‘Times Points HDFC Bank Debit Card’. This first-of-its-kind debit card offers customers the best deals, discounts, and rewards on online shopping.

Some of the key features are: 

Unique loyalty proposition enables shoppers to club points earned from online shopping with the points earned from consuming, creating, and sharing digital content on Times Internet (TIL) sites

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Minimum 10% discount on online purchases across retail, groceries, and dining spaces

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Offers and rewards on over 350 e-commerce, dining, wellness, and offline shopping destinations

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Customers can explore all the deals and offers available on Times Points HDFC Bank Debit Card on www.timespoints.com/debit

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Customers get Personal Accidental Death Cover up to Rs 10 Lakh, International Air Accidental Death Cover of Rs 50 lakh, and Zero liability cover up to Rs 1 lakh on fraudulent and skimming transactions

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Young and tech-savvy online shoppers will be able to use Times Points Debit Card in India as well as outside India

This is the second co-branded card launched by Times Internet with HDFC Bank. The partnership began with the launch of a co-branded Credit Card targeted at the entertainment segment in 2013. Times Card is today a leading player in the entertainment category with over 3.5 lakh customers and its success led to the launch of the debit version.

The Times Points Debit Card combines the synergies of HDFC Bank, the largest issuer of credit cards in the country offering a bouquet of cards catering to different segments of customers, and Times Points, an online loyalty product with over 18 million users.

“After the success of Times Card, we thought it was imperative to continue to build value for our consumers. And thus came Times Points Debit card – the first card in the debit space that magnifies the value proposition to customers by offering the best online deals and rewards. The card is aimed for Young Adults in their first job who spend most of their time online and are extremely price conscious. We have had a great association with HDFC Bank by far, and this partnership aligns us on the collective vision of consistently delivering unique products and services to our customers,” said Ms. Archana Vohra, COO, Times Cards.

Commenting on the new product collaboration, Mr. Parag Rao, Country Head - Card Payment Products and Merchant Acquiring Services, and Marketing, HDFC Bank, said, "At HDFC Bank, enhancing customer convenience lies at the heart of all our new initiatives. We are delighted to launch this new co-branded Times Points HDFC Bank Debit Card to cater to the evolving needs and lifestyles of our young and tech-savvy customers. This card gives great value in the form of discounts, offers, and rewards while shopping online. We are confident that our co-branded debit card will be a valuable addition to our growing portfolio of products that make shopping a truly rewarding experience."

Also commenting on the launch, Mr. Porush Singh, Country Corporate Officer, India and Division President, South Asia, Mastercard said, “Mastercard is excited to bring the new Times Points Debit Card, in partnership with HDFC Bank and Times Internet. The card aims to elevate the online shopping experience of young cardholders and caters to the bespoke lifestyle needs and expectations of the millennial generation. This product further reaffirms our commitment to promoting digital payments in India.”

Times Points HDFC Bank Debit Card is positioned as a shopping plastic to help customers benefit from internet based deals and offers. Currently launching with 20 key welcome offers and over 350 running offers it will continue to add more deals every month. The card will have a daily Shopping limit of INR 2.75 lakh and an ATM withdrawal limit of INR 1 lakh.

-About HDFC BANK Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 37 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.

The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 20 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.

As of June 30, 2016, the Bank had a distribution network with 4,541 branches and 12,013 ATMs in 2,587 cities/towns.

For the quarter ended June 30, 2016, the Bank’s total income was INR 193.22 billion (Rs 19,322.6 crore) as against INR 165.03 billion (Rs 16,503.0 crore) for the quarter ended June 30, 2015. Net revenues (net interest income plus other income) were INR 105.88 billion (Rs 10588.1 crore) for the quarter ended June 30, 2016, as against INR 88.50 billion (Rs 8850.7 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended June 30, 2016, was INR 32.38 billion (Rs 3,238.9 crore), up by 20.2% over the corresponding quarter ended June 30, 2015.

Total income for the year ended March 31, 2016, was INR 709.73 billion (Rs 70973.2 crore).

Leading Indian and international publications have recognised the bank for its performance and quality.

For more information please log on to: www.hdfcbank.com For media queries please contact: Rajiv Banerjee Vice President, Corporate Communications, HDFC Bank Ltd., Mumbai.

Tel: 91-22-66521307(D)/66521000 (B) Mobile: 09920454102 rajivshiv.banerjee@hdfcbank.com