Samsung has forayed into the fintech industry in India with the launch of an exclusive co- branded credit card, powered by Visa. Samsung has teamed up with Axis Bank to launch this credit card.
Samsung Electronics is targeting repeated purchases from its 175 million customers in India with the launch of a new cashback credit card. Right in time of the festive season in the country, the company has launched a new credit card with Axis Bank to offer 10% cashback all year round to customers buying Samsung products.
Samsung Axis Bank credit card benefits
With the Samsung Axis Bank Credit Card, consumers will get 10% cashback across all Samsung products and services all through the year. This 10% cashback offer through Samsung Axis Bank Credit Card will available over and above existing Samsung offers, on both EMI and non-EMI transactions.
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 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.
Samsung India and Axis Bank have partnered to reward cardholders on everyday spends with key partner merchants, including bigbasket, Myntra, Tata 1mg, Urban Company and Zomato. Also, 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 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.
“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.
How to get the Samsung Axis Bank credit card?
The Samsung credit card comes in two variants – Visa Signature and Visa Infinite. The annual cashback on the two is up to ₹10,000 and ₹20,000 respectively and the monthly cashback limits are ₹2,500 and ₹5,000.
The annual fee for the Signature variant is ₹500 excluding taxes while that of the Infinite variant is ₹5,000 excluding taxes. After the first three transactions, the Signature cardholders will get ₹2,500 ‘Edge Reward Points’ worth ₹500 while Infinite card holders will get 30,000 points worth ₹6,000.
One can apply for the card on Samsung’s website, through the comapny’s apps, and via Axis Bank channels.
