In a first, HDFC Bank, MasterCard launch Millennia cards aimed at 'Young India'
This is HDFC Bank's first major foray into the millennial segment that caters exclusively to the lifestyles and aspirations of its young customers.
HDFC Bank, MasterCard have launched Millennia Cards. This is India’s first range of cards catering exclusively to the lifestyles and aspirations of the millennials. The cards come loaded with benefits and rewards specifically for the digital-first generation. At 440 million, millennials account for 34 per cent of India’s population. Millennials in India have a different approach to life. They are shaped by technology and not in a hurry to achieve traditional milestones. They are equally focused on leisure and also value new experiences. Entertainment including dining out, travel, apparel, and lifestyle purchases are high on their list of priorities. Thus, their banking needs are also unique.
Speaking on the Millenia Card launch Parag Rao, Country Head, Card Payment Products, Merchant Acquiring Services and Marketing, HDFC Bank said, “We are extremely excited about the journey that we are embarking upon. Millennials are the future of our country and present a huge opportunity for us. I am very confident that this unique range of cards will not only complement their distinctive lifestyle but also allow us to meet their evolving needs,” adding “The Millennia range of cards will allow this generation to do more today, without compromising on other aspects of their life.”
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Porush Singh, Division President, South Asia, Mastercard said, “India is a young country, and the aspirations of millennials are evolving continuously. This generation of mobile-first digital natives provides a tremendous opportunity to drive a less-cash economy. Mastercard combines the best of safety standards with seamless user experience and is increasingly transforming into a lifestyle and experience-focused brand, which millennials value. Mastercard is delighted to partner with HDFC Bank for the launch of an exclusive range of cards targeting this segment.”
Millennial Trends: Source HDFC Bank
The Millennia range of cards comes in 4 unique variants to cater to different types of users — Millennia Credit Card, Millennia Easy EMI Card, Millennia Debit Card and Millennia Prepaid Card. All these cards are flooding with huge cashback and smart buy options where a cardholder can avail instant discount and cashback as per the offer.
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