At the Global Fintech Festival 2026, PhonePe unveiled co-branded credit cards with HDFC Bank and SBI, alongside a new Wishcard designed for consumers with limited or no credit history. The launch is aimed at converting India’s UPI-first spending habits into formal credit access for Gen Z, homemakers, freelancers and semi-urban households that have historically remained outside the mainstream lending system.
🇮🇳 India Edition • Banking, Fintech & InsuranceRDU GLOBAL CORRESPONDENT
VERIFIED WIRE INTELLIGENCE
"PhonePe Bets on Co-Branded Credit to Bring India’s Next 50 Crore Into Formal Lending"
At the Global Fintech Festival 2026, PhonePe unveiled co-branded credit cards with HDFC Bank and SBI, alongside a new Wishcard designed for consumers with limited or no credit history. The launch is aimed at converting India’s UPI-first spending habits into formal credit access for Gen Z, homemakers, freelancers and semi-urban households that have historically remained outside the mainstream lending system.
PhonePe Bets on Co-Branded Credit to Bring India’s Next 50 Crore Into Formal Lending
R
RDU Global Wire
BFSI & Fintech Desk
New Delhi, India Just now (05:03 AM IST)•5 min read
At the Global Fintech Festival 2026, PhonePe unveiled co-branded credit cards with HDFC Bank and SBI, alongside a new Wishcard designed for consumers with limited or no credit history. The launch is aimed at converting India’s UPI-first spending habits into formal credit access for Gen Z, homemakers, freelancers and semi-urban households that have historically remained outside the mainstream lending system.
Editorial & Verification Notice
Reported by RDU Global Correspondent. Formatted and verified using real-time institutional and journalistic wire feeds. Independent reporting adhering to the RDU Global Editorial Code of Conduct.
Related Coverage
Banking, Fintech & Insurance
15 Nov 2026, 02:00 PM ISTRBI Extends Supersession of Abhyudaya Co-operative Bank Board by One Year
The Reserve Bank of India has extended the supersession of the Board of Directors of Abhyudaya Co-operative Bank until November 24, 2025, prolonging central bank oversight of the lender. Satya Prakash Pathak will continue as Administrator as the RBI seeks to strengthen governance and address material concerns over the bank’s operations.
Banking, Fintech & Insurance
15 Nov 2026, 02:00 PM ISTHybrid Capital Gains Ground as India Inc Faces a Narrower Funding Menu
Hybrid capital is drawing wider acceptance in India as borrowers confront a shrinking set of financing options beyond traditional bank lending, according to Bain Capital Special Situations partner Sarit Chopra. The Boston-based private equity firm says demand is rising across cross-border acquisitions, carve-outs and promoter deleveraging, with its special situations arm deploying $1.2 billion in calendar 2026 and targeting sustained annual deployment of about $1 billion.
Banking, Fintech & Insurance
15 Nov 2026, 02:00 PM ISTHDFC Bank Wins Approval to Offer CGAS Deposits, Expanding Tax-Saving Parking Options
HDFC Bank has received government authorisation to accept deposits under the Capital Gains Accounts Scheme (CGAS), 1988, giving taxpayers a new bank channel to temporarily park eligible capital gains while preserving tax exemption benefits. The facility will allow customers to place unused proceeds in savings accounts or fixed deposits for up to three years and earn interest during the holding period.