HDFC Bank, MasterCard launch credit, prepaid cards for millennials: Check benefits

HDFC Bank and MasterCard today launched Millennia, a range of cards which cater exclusively to the lifestyles and aspirations of millennials. Range of products include credit, debit, prepaid card and EMI variants. The cards come loaded with benefits and rewards specifically for the digital-first generation, the bank said in a statement. 

The bank said at 440 million, millennials account for 34 percent of India’s population and they have a different approach to life, shaped by technology. They are equally focused on leisure and 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, it 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 to
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,” said Parag Rao, Country Head, Card Payment Products, Merchant Acquiring Services and Marketing, HDFC Bank. 

The Millennia range of cards will allow this generation to do more today, without compromising on other aspects of their life, it 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,” said Porush Singh, Division President, South Asia, Mastercard.

The bank said that credit, debit, prepaid card and EMI variants offer various benefits to the customers such as cashback, and easy EMI conversion.