BANGALORE: Do you think only retailers offer you online deals and discounts? If yes then you are not fully correct as now, even banks have started offering deals and discounts to lure customers. Nowadays most of the private-sector banks have been either launching e-commerce sites exclusively for their customers or have been tying up with more online retailers to provide better offers. 

For instance IndusInd Bank recently launched www.themorestore.in exclusively for the credit card and debit card holders of the bank. According to Anil Ramachandran, head retail unsecured assets the whole rationale behind the recent focus on the e-commerce push of the bank is the underlying strategy to improve the share of its debit and credit card spends. 

“People have been increasingly shopping online these days and it is a great way to attract customers. It is not only convenient, but easy to compare and as a result, people like shopping online. We have allowed our bank customers to not only shop online but also redeem their points online and this is a very attractive proposition,” says Ramachandran. 

IndusInd Bank has launched this in collaboration with Onemi.in, an e-commerce company.  Technopak, a retail consultancy firm, said that the online retailing space is expected to grow from $2.3 billion in 2014 to $38 billion by 2019.