Samsung India has announced a credit card in partnership with Axis Bank. The company offers 10% cash back on purchases, along with other perks such as financial institution rewards points, airport lounge access, and a 1% fuel surcharge waiver .
The service is divided into two tiers – Signature and Infinite. The former has a monthly redemption limit of INR 2,500 or INR 10,000 per year, while the latter is set at INR 5,000 and INR 20,000. The agreement covers all Samsung products – smartphones and smart wearables, laptops, televisions, refrigerators, washing machines, microwaves and other appliances.
There is no minimum transaction amount or limit on Samsung purchases. Cashback credit will take up to 60 days to appear in the user’s profile and will only work on selected channels.
CEO of Axis Bank revealed that the new product aims to expand beyond the top 10 cities and achieve penetration in Tier 2 and 3 cities. A Visa executive revealed that 3 out of 4 Indians buy at least one electronic device and spend about INR 40,000 per year.
Samsung Axis credit card applications will soon be opened on the dedicated page on the Samsung India website.
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