PhonePe and HDFC collaborated and introduced a PhonePe HDFC Bank Co-branded credit with UPI-integration and multiple benefits on June 26, 2025.
In a landmark move on India’s digital payments ecosystem, PhonePe & HDFC Bank unveiled the all-new PhonePe HDFC Bank Co-Branded Credit Card on June 26, 2025, expanding PhonePe’s portfolio into the co-branded card segment for the first time.
In partnership with HDFC Bank, this new line of co-branded Rupay credit cards is tailored to cater to the growing and dynamic financial demands of Indian consumers and is optimized for seamless UPI-based credit card payments.
With this strategic partnership, India’s leading fintech platform PhonePe joins forces with the HDFC Bank, the country’s largest credit card provider, to launch a card that combines technological innovation with a strong financial infrastructure.
This move from PhonPe not only marks its debut in the co-branded credit card market but also reflects the broader industry trend of integrating credit cards with UPI for smoother, faster, and more rewarding transactions.
PhonePe HDFC Bank Credit Card Types
These co-branded credit cards are available in two variants – UNO & Ultimo, catering to varied consumer segments. Additionally, these cards integrate seamlessly with UPI, allowing users to pay their everyday expenses via credit card while enjoying the rewards offered on the credit cards via the extensive merchant network enabled on UPI QRs.
Both of the co-branded cards from PhonePe and HDFC Bank offer:
- High Rewards on daily spend categories
- Full UPI integration for scan & pay
- Seamless access to PhonePe’s broad merchant network
- A fully digital onboarding and card management experience.
Fees & Charges of PhonePe HDFC Bank Credit Card
| Fees | PhonePe HDFC Ultimo Credit Card | PhonePe HDFC UNO Credit Card |
|---|---|---|
| Fuel Surcharge Waiver | 1% waiver on fuel surcharge | 1% waiver on fuel surcharge |
| Joining Fee | ₹999 | ₹499 |
| Renewal Fee (2nd Year Onwards) | ₹999 | ₹499 |
| Renewal Fee Waiver Condition | Waived on crossing ₹2 Lakh annual spends | Waived on crossing ₹1 Lakh annual spends |
HDFC PhonePe Ultimo Credit Card
- Cashback on Utilities, Travel & Leisure: Get 10% Reward Points on PhonePe spends like Bill payments, mobile Recharges, Flight Booking, Hotel, Pincode, Online Shopping, Grocery, Cabs & more.
- E-commerce & QRs: Receive 5% Reward Points on top online brands like Amazon, Flipkart, Swiggy, Zomato, Uber, Myntra, and AJIO.
- Get Cashback on Scan & Pay: Consumers may get 1% Reward Points on Scan & Pay payments through any UPI app.
- Lounge Access: Get 8 complimentary airport lounge accesses within India per year.
- Waive on Fuel Surcharge: 1% waiver on fuel surcharge for worry-free fuel spends.
- Welcome Benefits: Get cashback worth Rs 499 on your first UPI payment on PhonePe via this card & Rs 500 Cashback. Additionally, users also earn Rs.50 for their next 10 UPI payments on PhonePe via this card.
- Reward Points Value: 1 Reward Point = 1 Re.
HDFC PhonePe UNO Credit Card
- Cashback on Utilities, Travel & Leisure: Get 2% Reward Points on PhonePe spends like Bill payments, mobile Recharges, Flight Booking, Hotel, Pincode, Online Shopping, Grocery, Cabs & more.
- E-commerce & QRs: Receive 1% Reward Points on top online brands like Amazon, Flipkart, Swiggy, Zomato, Uber, Myntra, and AJIO.
- Get Cashback on Scan & Pay: Consumers may get 1% Reward Points on Scan & Pay payments through any UPI app.
- Lounge Access: Get 8 complimentary airport lounge accesses within India per year.
- Waive on Fuel Surcharge: 1% waiver on fuel surcharge for worry-free fuel spends.
- Welcome Benefits: Get cashback worth Rs 249 on your first UPI payment on PhonePe via this card & Rs 250 Cashback. Additionally, users also earn Rs.25 for their next 10 UPI payments on PhonePe via this card.
- Reward Points Value: 1 Reward Point = 1 Re.
These reward rates make it one of the best UPI-compatible credit cards in India for 2025.
Cashback Redemption
The cashback will be gained in the form of Reward Points, which can be redeemed by users against the statement balance on request only. The redemption against the statement balance will be at the rate of 1 Reward Point = 1Re. The minimum Reward Points balance required for redemption against the statement balance is 500 Reward Points.
Reward Points can also be used for redemption against other benefits like Flight & Hotel Bookings and Rewards Catalogue, a SmartBuy Rewards Portal at a value of 1 Reward Point = 0.30 Rs.
Reward Point Benefits
➡️ 10% Reward Points on Select PhonePe categories:
- Applicable on Recharges, Utilities, Bill Payments, Movies, Hotels, Travel, PhonePe PINCODE, and Travel Switch categories on the PhonePe app.
- Capped at 1000 Reward Points per calendar month
➡️ 5% Reward Points on select online brands, including:
- Amazon, Flipkart, Myntra, AJIO, Swiggy, Zomato & Uber
- Capped at 500 Reward Points per calendar month
➡️ 1% Reward Points on all Scan & Pay transactions:
- Capped at 500 Reward Points per month
➡️ Consumers will be eligible to get a Maximum Cashback of Rs 7500 per month.
➡️Unredeemed cashback points will be expire/lapse after 1 year of accumulation.
How to Apply for PhonePe HDFC Credit Card?
The PhonePe HDFC Co-branded credit card will be made available to eligible users in a phased rollout. If you want to apply for the card, then follow these steps given below:
- First of all, open the PhonePe Mobile App.
- Then, navigate to the credit cards section
- After that, check eligibility for the co-branded HDFC credit card.
- Submit your application digitally.
- Upon approval, the card will be issued and linked to your PhonePe app.
Conclusion
This collaboration between HDFC Bank & PhonePe is significant for several reasons:
- Bridges the gap between UPI and credit card usage.
- Encourages wider credit card adoption among UPI users.
- Leverages Rupay’s UPI-linked credit innovation
- Offers a higher reward structure on categories that Indian consumers spend on frequently.
- Enables hyperlocal commerce rewards through PhonePe’s Pincode app.
For users who want the flexibility of credit-based spending with UPI and demand high rewards for regular expenses, this card offers a best-in-class option.
