HDFC Bank Ltd., and MasterCard today launched Millennia cards catering exclusively to the lifestyles and aspirations of millennials. The cards come loaded with benefits and rewards specifically for the digital-first generation. Millennials account for 34 per cent of India’s population.
According to both partners, millennials have a different approach to life. They are shaped by technology and not in a hurry to achieve traditional milestones. 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.
“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.
Porush Singh, division president, south Asia, Mastercard, said, “The Millennia range of cards will allow this generation to do more today, without compromising on other aspects of their life. 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 a seamless user experience and is increasingly transforming into a lifestyle and experience-focused brand, which millennials value.