Flipkart launches Co-branded credit card in partnership with Axis Bank, Mastercard
Online transactions in India have grown significantly over the last year. Flipkart launches credit card by Mastercard. The credit card offers customers unlimited cashback on all spends, online and offline. India’s biggest online retailer. Flipkart has joined hands with Axis Bank and Mastercard to launch an exclusive co-branded credit card. This partnership is the latest effort from Flipkart, Axis Bank, and Mastercard to improve access to credit and further expand the fast developing credit card ecosystem in India.
This partnership shouldn’t come across as a surprise because other online stores have already launched similar credit cards in the past. For instance, Amazon collaborated with ICICI to launch eh Amazon Pay credit card. Then, there’s Snapdeal credit card, released in association with HDFC. And let’s not forget the PayTM credit card powered by Citi bank and now Flipkart launches credit card by mastercard. The new credit card will include welcome offers from several merchants and restaurants.
Flipkart Credit Card Benefits:
- The biggest draw of the card is that it will offer flat 5 % cash back on purchases made on Flipkart and its subsidiaries such as Myntra and 2GUD.
- The brand has also partnered with ride-hailing app Uber, hotel and flight booking portal MakeMyTrip, Goibibo, movie ticketing app PVR, and home furnishing store UrbanClap to offer 4 percent cash back.
- On all other e-commerce websites in India, you will get a cash back of 1.5 percent. AT this point, we are not sure whether this also includes Flipkart’s biggest competitor Amazon India. The cashback will be added to the user’s account at the end of the month.
- In addition to the online transaction, the Flipkart credit card will have other benefits such as complimentary airport lounge access.
- Also, you can avail up to 20 percent discount at over 4,000 restaurants across the country. Those who own a vehicle can also avail a fuel surcharge waiver of up to Rs 500 per month.
- The new credit card carries an annual fee of Rs. 500
“Through this co-branded credit card, in partnership with Axis Bank and Mastercard, we are reiterating our commitment to driving access to formal credit in India with an offering that will benefit the customer the most,” said Kalyan Krishnamurthy, CEO of the Flipkart Group, in a statement