Home / Money / Personal Finance /  Samsung India, Axis Bank launch co-branded Credit Card

NEW DELHI: Samsung, a consumer electronics company, and Axis Bank have partnered to launch a 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. 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.

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.

“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 tier 1 cities and aids our objective of card penetration into tier 2 & 3 cities." said Amitabh Chaudhry, MD and CEO, Axis Bank.

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 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 annually[1]. 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.

Consumers can choose between two variants - Visa Signature and Visa Infinite. On the Signature variant, cardholders can avail up to 10,000 cashback annually, with a monthly cashback limit of 2,500. On the Infinite variant, cardholders can avail up to 20,000 cashback annually, with a monthly cashback limit of 5,000. 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.

The Samsung Axis Bank Credit Card also comes with complimentary airport lounge access, fuel surcharge waiver, dining offers, and access to a bouquet of offers from Axis Bank and Visa.

The annual fee for the Signature variant is 500 + taxes and for the Infinite variant is 5000 + taxes. Both variants come with a welcome benefit of Edge Reward points, which the cardholders will earn on completing the first 3 transactions on their card. Signature variant cardholders will get 2,500 points worth 500, while Infinite variant cardholders will get 30,000 points worth 6,000 as a one-time welcome benefit.

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