Indian app-based cab company Ola and e-commerce website Flipkart are preparing to launch a credit card in India. According to the report, these two companies can join big banks and present a credit card soon.
According to a report of ET, the cab company Ola will take a credit card with the State Bank of India. Its pilot may start from next week and according to the report, the target is going to be 10 lakh credit cards in the first year of the launch.
None of the two companies has given its official information at the moment. In the report of ET, a top official of Ola has been informed that these credit cards will be given more rewards than the traditional cards.
According to the report, these companies can understand the pattern of spending customers through credit cards. Just like how is the customer using their card. On what kind of shopping is the customer using his credit card. At which place he/she is using it. Everything can be tracked.
Speaking of Flipkart, it has been said in the report that Indian e-commerce companies can launch credit cards together with HDFC and Axis Bank. These credit cards have been designed in such a way that tech companies can calculate the pattern of the customers. This will also help companies to undertake a successful business.
However, both Ola and Flipkart would be following the trend set by Amazon which had tied up with ICICI Bank to launch a co-branded credit card, which offers customers added rewards and benefits on the Amazon India ecosystem.
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