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Samsung India and Axis Bank launch co-branded credit card in India

By Leandra Monteiro

Today

  • Axis Bank
  • Cashback
  • co-branded credit card

Axis Bank, Samsung, Visa, credit cardSamsung and Axis Bank, India’s third largest private sector bank, have partnered to launch an exclusive co-branded credit card, powered by Visa.

With the Samsung Axis Bank Credit Card, consumers will get 10% cashback across all Samsung products and services round the year. As an additional point of delight for consumers, the 10% cashback offer through Samsung Axis Bank Credit Card will be over and above existing Samsung offers, on both EMI and non-EMI transactions.

“At Samsung, we believe in transforming the lives of our consumers through the power of innovation. The Samsung Axis Bank Credit Card, powered by Visa, is our next big India-specific innovation that will change the way our customers buy Samsung products and spend on services through a series of industry-leading features. We’re excited to be able to put the control into our consumers’ hands,” said Ken Kang, President and CEO, Samsung South-West Asia.

“Axis Bank is a full suite cards and payments player, and we continue to build on innovation led partnership models. Our focus is to offer product propositions that cater to our customers’ ever evolving needs and give them a seamless experience. Through this co-branded credit card, in partnership with Samsung India and Visa, we are reiterating our commitment to drive access to formal credit in India, tapping the wide reach of Samsung India that extends beyond top 10 cities and aids our objective of card penetration into tier 2 & 3 cities,” said Amitabh Chaudhry, MD and CEO, Axis Bank.

“Consumers today seek the best value from all type of purchases. Our research shows that 3 out of 4 Indian consumers buy at least one electronic appliance or device every year and spend around INR 40000 on electronics annually1. We are delighted to partner with Samsung and Axis Bank to introduce a credit card with a strong proposition and great value on home appliances as well as lifestyle goods,” said Sandeep Ghosh, Group Country Manager, India and South Asia, Visa.

The Samsung Axis Bank Credit Card is designed to reward consumers every time they use their card to buy Samsung products and services. Consumers will get 10% cashback when they purchase products such as smartphones, tablets, laptops, televisions, refrigerators, ACs, washing machines or Samsung services such as Service Center payments, Samsung Care+ mobile protection plans and extended warranties.

The 10% cashback on Samsung Axis Bank Credit Card will be over and above ongoing offers on both EMI/Non-EMI purchases. The 10% cashback will be applicable across offline channels selling Samsung products through Pine Labs and Benow payment interfaces, as well as online on Samsung.com, Samsung Shop App and Flipkart, and at authorized Samsung Service Centers. To add to the excitement, the 10% cashback benefit on Samsung Axis Bank Credit Card will be available all year round.

Consumers can choose between two variants – Visa Signature and Visa Infinite. On the Signature variant, cardholders can avail up to INR 10000 cashback annually, with a monthly cashback limit of INR 2500. On the Infinite variant, cardholders can avail up to INR 20000 cashback annually, with a monthly cashback limit of INR 5000. There is no minimum transaction value, which means cardholders can get 10% cashback on the smallest of Samsung purchases. Additionally, cardholders will earn Edge Reward Points on spends made outside the Samsung Ecosystem.

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