Bharti Airtel and Axis Bank today announced a strategic partnership to introduce a series of innovative financial offerings and digital services including a co-branded credit card, pre-approved instant loans, and Buy Now Pay Later offerings.
The alliance, with its significant reach across the country, will help penetrate Tier-2 and Tier-3 markets by enabling higher adoption of digitised payments, Airtel said in a statement.
The partnership launched ‘Airtel Axis Bank Credit Card’ to offer a host of benefits such as cashbacks, special discounts, digital vouchers and complimentary services to Airtel customers.
“Through this win-win telco-bank partnership, Airtel customers will get access to Axis Bank’s world-class financial services portfolio and exclusive benefits, while Axis Bank will benefit from Airtel’s strong digital capabilities and deep distribution reach,” said Gopal Vittal, MD, CEO, Bharti Airtel.
'Airtel Axis Bank Credit Card' users will get rewards such as 25 per cent cashback on Airtel Mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments. In addition, customers will get 10 per cent cashback on Electricity/Gas/Water bill payments via Airtel Thanks app, 10 per cent cashback on spends with preferred merchants, 1 per cent cashback on all other spends, and Amazon e-Voucher of Rs 500 on card activation within 30 days of issuance.
This credit card will be issued through the Airtel Thanks app, while Axis Bank will leverage Airtel’s suite of digital services, such as its C-PaaS platform - Airtel IQ which spans voice, messaging, video, streaming, call masking and virtual contact center solutions, to enhance digital capabilities, Airtel said.
“This one-of-a-kind collaboration will help widen the access to credit and various digital financial offerings from Axis Bank for Airtel’s 340 million customers. We will leverage Airtel’s widespread reach and services ranging from mobility and DTH to utility bill payments offering our customers the opportunity to maximize value, while also aiding the digital economy exponentially,” said Amitabh Chaudhry, MD,CEO, Axis Bank.
Post announcement, Bharti Airtel Limited's shares were up 2.91 per cent to Rs 672 apiece on BSE during late-trade.
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