JAMMU, July 11: E-commerce marketplace Flipkart and Axis Bank have partnered to launch an exclusive co-branded credit card, powered by Mastercard.
The credit card offers customers best-in-class benefits and unlimited cashback on all spends, online and offline. This partnership is the latest effort from Flipkart, Axis Bank and Mastercard to improve access to credit and further expand the fast developing credit card ecosystem in India.
The Flipkart-Axis Bank Credit Card is designed to cater to both credit-worthy Indians, as well as sections of the population who have not accessed formal credit before, through Axis Bank and Flipkart’s extensive pan-India network and distribution reach, and Mastercard’s market leadership in co-brand card programs and payment technology. The card will be available for select users in July, with plans to open the program to all customers over the coming weeks. Customers can also experience a seamless journey with this proposition, from instant card issuance to transaction completion.
As part of the industry-leading value proposition, the companies have partnered with renowned third-party merchants across key categories where customers are likely to use credit cards. These include MakeMyTrip, Goibibo, Uber, PVR, Gaana, Curefit and Urban Clap, providing unmatched benefits. Card holders will also get four complimentary lounge visits across airports in India. The Flipkart-Axis Bank Credit Card will also offer customers extra savings on EMI spends on the Flipkart platform, on all tenures.
“Through this co-branded credit card, in partnership with Axis Bank and Mastercard, we are reiterating our commitment to driving access to formal credit in India with an offering that will benefit the customer the most,” said Kalyan Krishnamurthy, CEO of the Flipkart Group.
“We are glad to partner with Flipkart and Mastercard, to further expand credit access and deepen our geographic reach targeting a larger customer segment,” said Amitabh Chaudhry, MD and CEO, Axis Bank.
Ari Sarker, Co-President, Asia-Pacific, Mastercard, said, “We are honored to partner Flipkart and Axis Bank in accelerating the exciting transformation of India’s digital payments landscape.”