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In India, Samsung introduces a credit card with a 10% reward on its goods
In a cooperation with Axis Bank and Visa, Samsung India introduced its first credit card in India on Monday. Customers will receive 10% cashback on all Samsung goods and services.
In collaboration with Axis Bank and Visa, Samsung India unveiled its first credit card in India on Monday. Customers will receive 10% cashback on all Samsung products and services throughout the year.
The 10% cashback incentive will be in addition to any other promotions the company may be running on both EMI and non-EMI transactions.
“We are aware that 70% of consumers in the nation upgrade their smartphones within a year after purchase. With this market-first offering, this co-branded credit card would assist people in saving their hard-earned cash while they enjoy new products “According to Raju Pullan, Senior Vice President of Mobile Business at Samsung India.
For the Signature and Infinite versions of the card, respectively, the yearly charge is Rs 500 with taxes and Rs 5,000 with taxes.
With a monthly cashback cap of Rs 2,500 on the Signature variation, cardholders can receive up to Rs 10,000 cashback yearly.
With the Infinite option, cardholders have a monthly reward cap of Rs 5,000 and a yearly cashback cap of Rs 20,000.
With the help of partnerships with major retailers like Bigbasket, Myntra, Tata 1mg, Urban Company, and Zomato, Samsung India and Axis Bank are able to provide cardholders extra benefits for their everyday purchases.
The card also grants free access to airport lounges, waives fuel surcharges, provides meal discounts, and grants access to a variety of deals from Visa and Axis Bank.
“The card complies with all current RBI regulations, including those relating to tokenization, and does so. We are among the first, along with Samsung, to harbour mistrust for the consumer electronics and technology sectors, which are vulnerable to disruption “IANS was informed by Sanjeev Moghe, President and Head of Cards and Payments at Axis Bank.
There is no minimum transaction amount, so cardholders can receive 10% cashback on even the smallest Samsung purchases.
According to Ken Kang, President and CEO of Samsung South-West Asia, “The Samsung Axis Bank Credit Card, powered by Visa, is our next big India-specific innovation that will transform the way our customers buy Samsung products.”
Amitabh Chaudhry, MD and CEO of Axis Bank, stated that the company’s priority is to provide clients with frictionless experiences and product proposals that address their constantly changing demands.
