Flipkart and Axis Bank have declared a partnership to launch a co-branded credit card powered by Mastercard. Interestingly, this credit card will offer best-in-class benefits and unlimited cashback on online and offline spends, as mentioned by Flipkart, Axis Bank, and Mastercard in a joint statement.
They further added, "This partnership is the latest effort from Flipkart, Axis Bank, and Mastercard to improve access to credit and also expand the fast developing credit card ecosystem in India."
Interestingly, the Flipkart-Axis Bank co-branded credit card will be available for select users in July.
Read the features and benefits of the Flipkart-Axis Bank co-branded credit card:
Feature/Offering |
Benefits |
|
Reward Currency |
Cashback credited directly in the |
|
Co-branded merchants |
5% unlimited cashback on Flipkart, |
|
Preferred Partner merchants |
4% unlimited cashback offered on MakeMyTrip, Goibibo, Uber, |
|
All Other merchants |
1.5% unlimited cashback |
|
Welcome benefits |
Benefits worth INR 3,300 |
|
Axis Dining Delights |
Upto 20% off and 1.5% cashback at 4000+ restaurants pan-India |
|
Extra savings on EMI |
Applicable for spends on Flipkart across all tenures, all days |
|
Airport Lounge Access |
4 complimentary domestic airport lounge visits per year |
|
Fuel Surcharge Waiver |
1% up to Rs. 500 per month |
|
Joining/Annual Fee |
Rs. 500, with an annual fee waiver on spends of Rs. 2 lakh |
According to the companies, there are plans to open the program to all customers in the coming weeks. As per, Kalyan Krishnamurthy, CEO, Flipkart Group, "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."
