HDFC Bank Expands SMEPayment Solutions with Launch of Business Credit Card Series

HDFC Bank, India’s largest private sector bank, today announced expansion of its SME Payment Solutions with the launch of Business range of credit cards customised for business owners, entrepreneurs, and freelancers. The credit cards will be available in 4 variants – BizFirst, BizGrow, BizPower, and BizBlack. The business credit card range offers a best-in-class interest-free credit cycle of 55 days, savings on core business spends like utility bills, GST, income tax, vendor payments, business travel, and business productivity tools.

Tailored to address both payable and receivable needs of businesses, the Bank has introduced a unified digital platform which consolidates all payables such as vendor payments, utility bills, and 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. The Bank leads the commercial spends market with a significant 45% market share as of December 2023.