HOW CO-BRAND CARDS WILL DELIVER THE NEXT 100 MILLION?

India celebrated the milestone of 100 million credit cards in force. This growth trajectory, supported by a 15% annual increase, has set the stage for co-branded credit cards to play a pivotal role in driving the next 100 million cards. Co-branded credit cards, which currently account for around 33% of new issuances, are expected to further expand their influence as the market evolves. These partnerships between card issuers, consumer brands and fintechs cater to the diverse needs of Indian consumers with targeted rewards and value propositions.

The insights in this report are drawn from interviews with four industry experts: Ravindra Rai, Whole-time Director of BOBCARD Limited; Bikram Singh Yadav, Business Head, Credit Cards at RBL Bank; Pankaj Bansal, Chief Business Officer at BankBazaar.com; and Ramanathan RV, Co Founder of Hyperface. Each expert brings valuable insights into the role of co-brands, the characteristics of the ideal consumer, the requirements for successful partnerships, and the regulatory landscape.

To succeed in this evolving environment, our experts say that partnerships need to be consumer-centric, with deep integration between the partners’ strengths in technology, marketing, analytics, and risk management. Success hinges on delivering a seamless and satisfying customer experience, with quick, frictionless onboarding processes being critical. Above all, a clear alignment of values and long-term goals between partners is essential for the sustained success of co-branded cards.

Our experts agree that the next 100 million cardholders will be diverse, ranging from aspirational middle-class individuals to younger cohorts in Tier-2 and 3 cities. These consumers are increasingly savvy, digitally engaged, and value loyalty benefits.

Readers of this report will find actionable insights into the key drivers behind India’s credit card growth, particularly the strategic importance of co-branded partnerships. The expert perspectives offer practical advice on navigating evolving consumer needs and meeting regulatory expectations. These insights will be valuable for industry stakeholders looking to capitalise on the next wave of credit card expansion.

Disclaimer
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.