New Delhi : Samsung, India’s largest consumer electronics company, 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.
As an industry-leading initiative, 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.
Samsung Axis Bank Credit Card Variants and Product Proposition
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.
With consumer trends and preferences in mind, Samsung India and Axis Bank have partnered with the best in the industry to bring accelerated rewards to cardholders on everyday spends with key partner merchants: bigbasket, Myntra, Tata 1mg, Urban Company and Zomato .
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.
Samsung Axis Bank Credit Card Fee, Welcome Benefits and Application Process
The annual fee for the Signature variant is INR 500 + taxes and for the Infinite variant is INR 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 2500 points worth INR 500, while Infinite variant cardholders will get 30000 points worth INR 6000 as a one-time welcome benefit. Customers can apply for the card through Samsung Axis Bank Credit Card website: www.samsung.com/in/samsung-card Samsung’s ecosystem of apps (Samsung Shop, Samsung Pay, Samsung Members) and Axis Bank channels.
Customers can register their interest for the Samsung Axis Bank Credit Card on the dedicated microsite: samsung.com/in/samsung-card. Applications will open soon.
1 All figures, unless otherwise stated, are from YouGov Singapore Pte Ltd. Total sample size was 1,009 adults. Fieldwork was undertaken online between 6 September 2022 – 9 September 2022. The figures have been weighted and are representative of Indian adults online (aged 18+).