ICICI Bank, has announced the launch of a co-branded credit card in an exclusive partnership with ‘Amazon Pay’, the online payment platform of the global e-commerce company Amazon. Christened, ‘Amazon Pay ICICI Bank Credit Card’, the card offers best in the industry rewards points programme for the digitally savvy customers.
This is the first card in the country to enable Amazon Prime members earn 5% reward points on shopping on Amazon.in. Other customers get 3% reward points. They also earn 2% reward points on spends at Amazon Pay partner merchants across categories such as food delivery, utility payments, movie ticketing and much more. As the card is available exclusively on Visa, customers also earn rewards at millions of merchant locations throughout India where Visa cards are accepted.
A prominent proposition of the ‘Amazon Pay ICICI Bank Credit Card’ is that each reward point is equivalent to a rupee which customers can redeem on Amazon.in from a catalogue of more than 160 million items available on the website or by paying merchants who accept Amazon Pay. The reward points carry other industry-first benefits too—they are uncapped and do not expire. Besides best in class rewards, customers will also get fuel surcharge waivers, No-cost EMI offers & surprise bonus points during sale events on Amazon.in and Amazon Pay partner merchants.
Commenting on the new launch, Sudipta Roy, General Manager & Head – Unsecured Assets & Cards, ICICI Bank said, “ICICI Bank popularised consumer loans and usage of cards in the country. We are now witnessing two distinct consumer trends. One, millions of Indians are now making purchases for most of their requirements online. Two, customers are looking for richer reward propositions that provide them flexibility in redemption.”
Speaking about the launch, Vikas Bansal, Director, Emerging Payments, Amazon Pay, said “Our mission is to make online shopping more affordable and provide the best value to Amazon Pay customers. Amazon Pay ICICI Bank Credit Card offers our customers compelling rewards on Amazon and everywhere else they shop. We believe this card will provide our customers another reason to choose Amazon Pay, the most trusted, convenient and rewarding way to pay. This festive season, customers can now look forward to more savings through this card.”
“We are delighted to partner with Amazon Pay and ICICI Bank for this co-branded card which is sure to add a new dimension to consumer experience in the Indian digital payments space. With more Indian consumers online than ever before, the new card will help transition consumers away from cash-on-delivery into the fast, secure and convenient world of digital payments,” said Shailesh Paul, Vice President – Merchant Sales & Acquiring, India and South Asia for Visa.
