Flipkart and Axis Bank announced a partnership to launch a co-branded credit card powered by Mastercard. The credit card offers best-in-class benefits and unlimited cashback on online and offline spends, Flipkart, Axis Bank, and Mastercard said in a joint statement. "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," they added. The Flipkart-Axis Bank co-branded credit card will be available for select users in July.
Here are the features and benefits of the Flipkart-Axis Bank co-branded credit card, as shared by the companies in their joint statement:
| Feature/Offering | Benefits |
|---|---|
| Reward Currency | Cashback credited directly in the monthly billing statement |
| Co-branded merchants | 5% unlimited cashback on Flipkart, Myntra and 2GUD |
| Preferred Partner merchants | 4% unlimited cashback offered on MakeMyTrip, Goibibo, Uber, PVR, Curefit and UrbanClap |
| All Other merchants | 1.5% unlimited cashback |
| Welcome benefits | Benefits worth INR 3,300 available across merchants, viz. Flipkart, Myntra, MakeMyTrip, Goibibo, Gaana, UrbanClap |
| Axis Dining Delights | Upto 20% off and 1.5% cashback at 4000+ restaurants pan-India |
| Extra savings on EMI | Applicable for spends on Flipkart across all tenures, all days |
| Airport Lounge Access | 4 complimentary domestic airport lounge visits per year |
| Fuel Surcharge Waiver | 1% up to Rs. 500 per month |
| Joining/Annual Fee | Rs 500, with an annual fee waiver on spends of Rs 2 lakh |
The companies also said they plan to open the program to all customers over the coming weeks.
"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, Flipkart Group.
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