HDFC Bank is set to double up as an online shopping mart of sorts, selling grocery, clothes, shoes and other lifestyle products on its website, and getting its customers the best deals from e-tailers such as Snapdeal, Flipkart and Amazon.
Given the rapid growth in e-commerce, this is a timely move on the part of India’s second largest private sector lender, said a senior executive.
About 30-40% of customer spends on e-commerce happens through their credit and debit cards. They are also a large acquirer; so, as a bank they thought while being the payment provider why don’t they give customers the option to shop for a host of products on the bank website and get offers and preferential treatment to increase ..
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