• Wednesday, 26 June 2019

BankBazaar expands credit card category for self-employed customers


Jan 11, 2019 (6 months ago) |
New Delhi , Jan 10 : BankBazaar, India's leading online marketplace for financial products, announced the launch of Business Cards from Yes Bank on their platform.
With this launch, BankBazaar expands its Credit Card category to include Business Cards tailored keeping in mind the specific needs of the self-employed customers, especially when it comes to managing business expenses better. To start with, BankBazaar is featuring two variants of Business Cards from Yes Bank.

These are already integrated and live on the platform. Two more variants from other partner banks are expected to go live by the end of the month. All the products come with a paperless application option. Customers can opt for manual submission of documents or choose to apply for all these products in a completely paperless manner for a much faster approval process.

BankBazaar currently has more than 50+ Credit Cards from partner banks already available on the site. However, this is the first time BankBazaar is hosting Business cards targeted specifically at self-employed customers.

Speaking about the category expansion, Adhil Shetty, Co-founder and CEO, BankBazaar, says: "BankBazaar's aim is to help customers access the financial product that is right for them. Millennials, who form the core of our customer base, are high on aspiration, as revealed by the BankBazaar Aspiration Index, and have more entrepreneurial spirit compared to earlier generations."

"Our search data, too, shows that the self-employed customers contribute to more than 20% of the searches for Credit Cards. At BankBazaar, we realize the need for products tailored specifically for this customer group, and with these new partnerships, we are trying to bring more relevant products on board for a large section of our customers," he added.

BankBazaar has been steadily increasing the range of products available on the marketplace to reach out to a wider group of customers. The newly introduced Business Cards cater to the specific requirements of the self-employed and offer several features to make managing business expenses simpler and more rewarding.

Navin Chandani, Chief Business Development Officer, BankBazaar, adds: "Business Credit Cards are now available to the self-employed customers on BankBazaar. These cards offer Control, Cost savings, and Convenience and are tailored for the self-employed individuals who have their own business to drive effective expenses management, including Travel and entertainment expenses. We look forward to expanding our most popular category with these new products in partnership with Yes Bank."

Speaking about the partnership, Nilkanth Rade, President and Sales Head, Credit Cards, Yes Bank Limited, says: "With the launch of Yes Bank's Business Credit Card Products on Bank Bazaar platform, we look forward to leveraging the platform's wide distribution network and its strong customer portfolio. Today, the number of entrepreneurs in India are rapidly growing, and we are confident that this partnership will be beneficial for self- employed customer who can now own a curated product offering that suits their business as well personal needs." Apart from Business Cards, BankBazaar also hosts Yes Bank Credit Cards on their site.

BankBazaar hosts the widest range of financial products from over 85 of the biggest public and private sector banks, NBFCs, and insurance companies in India. It closed the last quarter with 100M visitors.

The company raised USD 110M through funding from investors such as Amazon.com, Experian, Fidelity Growth Partners, Mousse Partners, Sequoia Capital and Walden International.

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BankBazaar expands credit card category for self-employed customers

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