Walmart India, the wholly owned subsidiary of Walmart Inc., has partnered with HDFC Bank Ltd., to launch a co-branded credit card exclusively for members of its Best Price Modern Wholesale “B2B Cash & Carry” stores. The co-branded credit card was launched in Hyderabad at `Best Price’ Store by Krish Iyer, President & CEO, Walmart India and Parag Rao, Country Head, Payments Business and Marketing, HDFC Bank. Annie Zhang, Regional MD APAC for Discover was also present at the event. Simultaneously, the card was launched at 26 other `Best Price’ Modern Wholesale Store locations pan India.
Under the new collaboration, registered members of Walmart India’s ‘Best Price’ across the country will now also be able to pay for their purchases via the exclusive co-branded credit card, in addition to other payment solutions already available to them. They will be able to make payments with the exclusive card in store, as well as via the Best Price online platform www.bestprice.in and assisted-ordering solutions. With over one million members, mainly kiranas, now being introduced to the co-branded card, the company is accelerating its push to adoption of digital payments in India. The co-branded card will offer `Best Price’ members rewards and cashback on all purchases, with savings of up to 6% on annual spends. The card comes in two variants. The entry level card is known as Best Price Save Smart and offers annual savings of up to Rs 14,250 subject to certain spends. Likewise, the premium variant is known as the Best Price Save Max card and offers annual savings of up to Rs 40,247. The card will be supported by Diners Club International, a business unit of Discover Financial Services and will help Best Price members to simplify and manage their business spends, all while enjoying unique privileges and offers.
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