Airtel Axis Bank Credit Card promises rewards on their card spends (Image Source: Axis Bank/Airtel)
Telecom major Bharti Airtel and Axis Bank, the country’s third-biggest lender, on March 7 announced the launch of Airtel Axis Bank Credit Card as part of a “strategic partnership to strengthen the growth of India’s digital ecosystem through a range of financial solutions”.
Axis Bank MD and CEO Amitabh Chaudhry said the collaboration would help widen the access to credit and various digital financial offerings from Axis Bank to Airtel’s 340 million customers.
“On the other hand, we will leverage Airtel’s widespread reach and services ranging from mobility and DTH to utility bill payments offering our customers the opportunity to maximise value, while also aiding the digital economy exponentially,” Chaudhry added.
Bharti Airtel MD and CEO (India and South Asia) Gopal Vittal said the company was building a financial services portfolio as part of its endeavour to offer world-class digital services to its customers.
“We are delighted to join forces with Axis Bank … through this win-win telco-bank partnership, Airtel customers will get access to Axis Bank’s world-class financial services portfolio and exclusive benefits, while Axis Bank will benefit from Airtel’s strong digital capabilities and deep distribution reach,” he said.
The alliance is expected to help both companies penetrate tier II and III markets by enabling higher adoption of digitised payments, the companies said in a press statement.
Offerings include a co-branded credit card with benefits such as pre-approved instant loans, Buy Now Pay Later offerings, cashbacks, special discounts, digital vouchers and complimentary services to Airtel customers.
Here’s what rewards Airtel Axis Bank Credit Card users will enjoy on their card spends:
— 25 percent cashback on Airtel mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments
— 10 percent cashback on electricity/gas/water bill payments via Airtel Thanks app
— 10 percent cashback on spends with preferred merchants – BigBasket, Swiggy, Zomato
— 1 percent cashback on all other spends
— Amazon e-Voucher worth Rs 500 on card activation within 30 days of issuance
This credit card will be exclusively available for eligible Airtel customers through the Airtel Thanks mobile app.
The bank said it will leverage Airtel’s suite of digital services such as its C-PaaS platform – Airtel IQ (voice, messaging, video, streaming, call masking and virtual contact centre solutions), to enhance digital capabilities; and utilise various cyber security services from Airtel to “further explore collaborating across Cloud and Data Center services”.