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Samsung India and Axis Bank launches Co-branded Credit Card for users

Samsung India and Axis 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 around the year.

Consumers can choose between two variants of credit cards – Visa Signature and Visa Infinite. On the Signature variant, cardholders can avail of up to INR 10000 cashback annually, with a monthly cashback limit of INR 2500. On the Infinite variant, cardholders can avail of 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% cash back on the smallest of Samsung purchases. Additionally, cardholders will earn Edge Reward Points on spends made outside the Samsung Ecosystem.

The annual fee for the Signature variant is INR 500 + taxes and for the Infinite variant is INR 5000+ taxes.

“Axis Bank is a full suite card and payments player, and we continue to build on innovation-led partnership models. Our focus is to offer product propositions that cater to our customer's 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 the top 10 cities and aids our objective of card penetration into tier 2 & 3 cities,” said Amitabh Chaudhry, MD, and CEO, Axis Bank.

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, and washing machines, or Samsung services such as Service Center payments, Samsung Care+ mobile protection plans, and extended warranties.

“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, of Samsung South-West Asia.

“Consumers today seek the best value from all types 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.

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