Digital Payments are Rewarding

Hello and Namaste Everyone,

There are two types of banks in India. Private and government banks and RBI are the government bodies that monitor all these rules and regulations and compliance for these banks in the country. These banks must comply with the RBI guidelines and in case of failure, RBI will penalize them and take strict action. So no matter where you open your bank account or use any banking products there will be no difference in government guidelines. HDFC is one of the banks popular in the private banks segment but I have been using this bank for quite some time. Even I got my credit card for the first time from this bank only and I still use this.

I see that in the last few months, the bank has been trying to offer me a lot of credit products as well as they are encouraging me to use more online payments. Earlier they were offering me some promotional offers for using the credit card and now they are also doing the same with debit cards. A debit card is a type of card that is linked to a bank account. It means if I use the debit card for payment then money will be deducted from my bank account immediately. I don't use debit cards because I don't like to spend money from my bank account if I can do this with a credit card.

Email from HDFC Bank

This is the email I received from the bank when the bank said that they would give me ₹200 voucher if I performed two transactions worth one thousand rupees each. It's like I'll be getting a discount of 10% value of the spend. I just need to spend the money from my bank account using a debit card and I think 10% is not bad provided the vouchers are from reputed brands. In the past, I have participated in such promotional offers where I got the Amazon voucher which is a popular brand and I use it.

I will participate in this promotion because this way I can get some promotional benefits also but I have never received such communication from a government bank. I also have an account in a government bank but they are not good at marketing like HDFC Bank is. It is good that the bank is encouraging people to go for online payments and digital payment is a good option to use. It is easy and convenient to use. We can use the card online for making payments and also add the merchant outlet these days since tap-to-pay is available almost everywhere so just tapping on the machine is good to make the payment if the amount is not big.

I like the approach that HDFC bank follows to reward its customers and encourage them to use its products which I know are part of the marketing strategy. Govt banks also need to understand it I believe so that they can have a good market share because nowadays a lot of people prefer to have accounts in private banks instead of the government. I'm happy that I have an account with HDFC and I use their bank account as well as credit cards their support team is also very helpful. It is one of the biggest private banks having a bigger market share in the credit card business in the country and it has a variety of credit cards available for individual needs. So I will participate in this promotion and we'll wait for my voucher that will be delivered in the next few months. I hope this voucher is from Amazon that I can use for my shopping later.

Thank you so much
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