The Amazon Pay ICICI Bank credit card, powered by VISA, has achieved a significant milestone – becoming the first co-branded credit card in India to onboard over 5 million customers nationwide, the company announced at the Global Fintech Festival in Mumbai on Thursday.
Reasons for Success:
Uncomplicated Benefits: The card offers a straightforward rewards programme with unlimited cashback, a lifetime free card, and instant issuance within 30 minutes through a digital process.
Digital-First Approach: The Amazon Pay ICICI Bank credit card boasts one of the highest Net Promoter Scores (NPS) in the industry due to its focus on a seamless digital experience.
Attractive Cashback: Users receive unlimited cashback on various categories, including 5% on Amazon purchases for Prime members and 3% for non-Prime members.
High Spending: The card’s average spend per user is 22% higher than the industry standard, indicating its popularity for high-value and small-ticket transactions.’
Additionally, it offers exclusive six-month no-cost EMI options on millions of products on Amazon.in and is one of the most widely used credit cards for tap and pay transactions, empowering customers to make payments conveniently and efficiently.
“The co-branded credit card offers enhanced rewards, including unlimited cashback of 5% for Prime members and 3% for non-Prime members on Amazon purchases, 2% cashback on bill payments, and 1% cashback on all other non-EMI transactions (excluding rental payments). With cashback points that never expire, and 1 point equal to INR 1, rewards are automatically credited to the Amazon Pay Balance, usable both on and off Amazon.in,” the company said in a release.
“Since its launch in October 2018, the Amazon Pay ICICI Bank Credit Card has received encouraging response from millions of customers across the country. The card has crossed several milestones, and its success can be attributed to the best-in-industry rewards and seamless on-boarding process,” said Amarjit Singh Walia, Product Head – Cards, ICICI Bank.
“The card’s appeal and compelling value to consumers is evident in its success, driven by seamless digital issuance, attractive benefits, and an integrated digital journey, maintaining its position as their top-of- wallet credit card,” said Rishi Chhabra, Head of Merchant Sales & Cobrands for Visa India and South Asia.
First Published: Aug 29 2024 | 1:46 PM IST
