HSBC India has introduced its first premium credit card, HSBC Prive, catering exclusively to private banking clients. This launch is part of HSBC’s global initiative to enhance its credit card offerings for high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs), targeting professionals, entrepreneurs, and families with investable assets exceeding $2 million.
Initially launched in Hong Kong, HSBC Prive is set to expand to other global markets. This expansion aligns with HSBC’s commitment to offer premium financial solutions tailored for clients with international and entrepreneurial interests.
HSBC Prive has been crafted to deliver exclusive benefits across travel, access, and lifestyle:
Companion first or business-class tickets.
Worldwide airport lounge access.
Comprehensive travel insurance coverage.
Doorstep visa services.
Zero forex mark-up on international transactions.
Memberships to elite private clubs and lounges.
Michelin Star dining experiences.
Access to premium workspaces across 150+ global locations.
Special benefits with top-tier hospitality groups.
Exclusive shopping offers and wellness program access.
Fitness memberships and tailored lifestyle experiences.
These services are supported by a dedicated team that ensures seamless access for cardholders.
Sandeep Batra, Head of Wealth and Personal Banking at HSBC India, emphasized that HSBC
Prive reflects the bank’s focus on integrating private banking services with exclusive privileges. This approach aims to address the sophisticated needs of HNWIs and UHNWIs in India.
According to Mastercard, spending by affluent individuals in India has surged. In 2023, credit card spending by UHNWIs and HNWIs grew by an impressive 87% year-on-year. Key areas of increased expenditure include:
Overseas travel: Up by 69%.
Experiential spending: Up by 56%.
Gautam Aggarwal, Division President, South Asia at Mastercard, highlighted that their collaboration with HSBC addresses the rising demand for specialized financial services among this fast-growing segment.
Conclusion
HSBC Prive is a step forward in redefining premium banking experiences in India. With its unique blend of travel, lifestyle, and access privileges, the card is set to meet the aspirations of India’s most discerning clients while aligning with the global strategy of expanding exclusive financial solutions.