MUMBAI, 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 & Flipkart’s extensive pan-India network and distribution reach, and Mastercard’s market leadership in co-brand card programs and payment
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.
Under this program, customers can earn best-in-class returns on their card spends via cashback that is auto credited every month in customer’s statement, thereby ensuring that they will be able to see tangible return on their everyday spends.
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.
”At Flipkart, we believe in putting the customer at the centre of all our endeavours, while also generating shared value for all stakeholders in the ecosystem. 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. Meaningful growth in India will be driven through expanding the credit fold, and we are happy to continue playing a role in that by helping millions of Indians fulfill their aspirations without the burden of financial constraints,” said Kalyan Krishnamurthy, CEO of the Flipkart Group.