HDFC Bank is preparing to make some changes in its old credit card. For this, the fintech company can be entrusted with the responsibility.
HDFC Bank, the country’s largest private bank, is going to change the old credit card soon. According to the bank, it is preparing to convert the old credit card system into the latest technology. For this, it is being considered to transfer the card platform to a trusted fintech company. So if you are a customer of HDFC Bank, then get ready for this change.
According to Mint’s report, HDFC Bank Cards can transfer its card platform to a FinTech company to improve end-to-end processing and security. Since Fintech is considered a good platform for online banking and credit card issuance. Due to this, the bank has made up its mind to hand over this responsibility.
Increase in digital transactions became the reason
Digital transactions have increased rapidly during the Corona epidemic. Meanwhile, the trend of credit cards has increased significantly. Hence the need was felt to make its operations more better and to take it to digital platform. This is the reason why HDFC Bank has decided to change the old cards.
RBI stopped digital launching
In November, the Reserve Bank of India (RBI) ordered to stop all digital launches of HDFC Bank. The RBI had imposed this ban due to problems in the digital functioning of HDFC Bank. It also includes new credit cards. Although this order was temporary.
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