HDFC Bank’s InstaCard crosses three lakh cards milestone

Lucknow: HDFC Bank’s instant credit card offering, InstaCardhas crossed the three lakh milestone within a year of its launch.

Launched in January this year, InstaCard combines customer convenience and experience with cutting edge analytics to offer an electronic card that is delivered to customers within an hour of applying for a credit card in quick and easy steps on Netbanking. With InstaCard, customers can do online transactions on e-commerce websites immediately on receipt of the InstaCard. The physical card is then delivered to the customers within a few days.

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InstaCard has become popular as it allows customers to use the features of the card they have applied for within an hour.

After its launch in January 2017, the bank has issued more than 3 lakh InstaCards. InstaCard can be used by customers at any ecommerce portal andDiGiPOS machines where payment can be made using Bharat QR and SMS Pay.

Popularly also known as a digital credit card, an InstaCard is issued using a combination of credit bureau information, pre-qualification algorithms and checks in the application form. It allows the bank to ascertain the eligibility of an applicantand issue the digital credit cardwithin an hour.