Zomato and RBL Bank discontinue co-branded Edition credit cards partnership

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Foodtech platform Zomato and RBL Bank have announced the discontinuation of their partnership for co-branded Edition credit cards. Starting May 15, users will not be able to use Classic and Black Edition cards. RBL Bank will replace the existing cards with the ‘RBL Bank Shoprite Credit Card’. The card dashboard will no longer be visible on the Zomato app after the set date.

The partnership between Zomato and RBL Bank began three years ago in March 2018. Zomato, with the help of RBL Bank and Mastercard, launched Classic and Black co-branded credit cards, offering 5-10% cashback to users on all spending via Zomato and Blinkit apps. The cards also allowed users to manage their cards from within the Zomato app and track spending. Users could also avail Zomato Pro membership free of charge and gain access to all major domestic airport lounges.

While there is no clarity on how many cards were issued in total over the course of three years, the deal enabled Zomato to build user loyalty while RBL onboarded new customers for its fintech products. However, the dissolution of the partnership comes three years later, as the bank and the food delivery giant have decided to part ways.

RBL Bank will begin dispatching new cards from May 15. All outstanding dues, including ongoing EMIs, will be transferred onto the new card. Users will be able to avail all the benefits of the new card on Edition cards from the same date. As per the bank, users will be notified about the process of exchanging their cards.

Zomato users will be able to redeem all the cash back on the food delivery app until May 14. Any outstanding balance will be auto-credited to the new card by May 30. Zomato has wrapped up its offering at a time when several other Indian startups have ramped up their focus on co-branded credit cards. This comes a month after HDFC Bank and Flipkart Wholesale teamed up for the launch of a co-branded credit card exclusively for Flipkart Wholesale members. Before that, Tata Neu also signed a deal with HDFC Bank to launch a co-branded credit card across two variants.

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Zomato and RBL Bank discontinue co-branded Edition credit cards partnership

Foodtech platform Zomato and RBL Bank have announced the discontinuation of their partnership for co-branded Edition credit cards. Starting May 15, users will not be able to use Classic and Black Edition cards. RBL Bank will replace the existing cards with the ‘RBL Bank Shoprite Credit Card’. The card dashboard will no longer be visible on the Zomato app after the set date.

The partnership between Zomato and RBL Bank began three years ago in March 2018. Zomato, with the help of RBL Bank and Mastercard, launched Classic and Black co-branded credit cards, offering 5-10% cashback to users on all spending via Zomato and Blinkit apps. The cards also allowed users to manage their cards from within the Zomato app and track spending. Users could also avail Zomato Pro membership free of charge and gain access to all major domestic airport lounges.

While there is no clarity on how many cards were issued in total over the course of three years, the deal enabled Zomato to build user loyalty while RBL onboarded new customers for its fintech products. However, the dissolution of the partnership comes three years later, as the bank and the food delivery giant have decided to part ways.

RBL Bank will begin dispatching new cards from May 15. All outstanding dues, including ongoing EMIs, will be transferred onto the new card. Users will be able to avail all the benefits of the new card on Edition cards from the same date. As per the bank, users will be notified about the process of exchanging their cards.

Zomato users will be able to redeem all the cash back on the food delivery app until May 14. Any outstanding balance will be auto-credited to the new card by May 30. Zomato has wrapped up its offering at a time when several other Indian startups have ramped up their focus on co-branded credit cards. This comes a month after HDFC Bank and Flipkart Wholesale teamed up for the launch of a co-branded credit card exclusively for Flipkart Wholesale members. Before that, Tata Neu also signed a deal with HDFC Bank to launch a co-branded credit card across two variants.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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