HDFC Bank Launches SME-Focused Credit Cards with Unique Features

India’s biggest private sector bank, HDFC Bank, on February 6 launched four new small and medium enterprises (SME)-focused credit cards to cater to the specific needs of entrepreneurs, freelancers, and professionals.

Unique Selling Proposition (USP):

The biggest USP of the cards is that they will provide 55 days of interest-free credit, the highest number of days offered by any bank. 

In addition, they also provide savings on core business spending like utility bills, GST, income tax, vendor payments, business travel, and business productivity tools.

Comprehensive Suite of SME Payment Solutions:

“The new cards will make up a part of the strong suite of SME payments solutions that the bank offers — BizFirst, BizGrow, BizPower, and BizBlack,” the bank said in a press release. 

It added that the SME Payment Solution is planned to meet the various payment needs of self-employed individuals, SMEs, and MSMEs.

Unified Digital Platform for Payment Management:

Tailored to address businesses’ payable and receivable needs, HDFC Bank has introduced a unified digital platform that consolidates all payables such as vendor payments, utility bills, statutory payments, etc. 

On the receivable side of payments, the platform is designed to manage and optimize end-to-end supply-chain arrangements and reconciliation. 

The platform provides a detailed dashboard with one view of payments made and accepted for better cash-flow management.

Key Features of the Business Credit Cards:

• Up to 55 days free credit period (industry best)
• Up to 10X* Reward Points on Business Spends
• Bill Payments | Tax Payments | Vendor Payments | Business Travel | Business Productivity Tools
• Specially Curated Business Insurance Package: Fire & Burglary | Cash in Safe & Transit | Electronic Equipment
• Exclusive Business-focused Redemption Catalogue: Travel & Hotels | Microsoft Office 365 | Clear Tax | Amazon for Business | Google Ads
• EMI and Loan on card facility