Bharti Airtel and Axis Bank today announced a strategic partnership to introduce a series of innovative financial and digital services offerings including a co-branded credit card, pre-approved instant loans and Buy Now Pay Later offers.
The alliance, with its significant reach across the country, will help penetrate Tier 2 and Tier 3 markets by enabling greater adoption of digitized payments, Airtel said in a statement.
The partnership launched the “Airtel Axis Bank Credit Card” to provide a host of benefits such as cash back, special discounts, digital vouchers and free services to Airtel customers.
“Through this win-win telco-bank partnership, Airtel customers will have 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 its broad distribution reach,” said Gopal Vittal, MD. , CEO, Bharti Airtel.
Users of “Airtel Axis Bank Credit Card” will get rewards such as 25% cashback on Airtel Mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments. In addition, customers will receive 10% cashback on electricity/gas/water bill payments through the Airtel Thanks app, 10% cashback on spending at preferred merchants, 1% cashback on all other spending and Amazon e-Voucher of Rs 500. upon activation of the card within 30 days of its 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 covers voice, messaging, video, streaming, call masking and virtual contact center solutions. , to improve digital capabilities, Airtel said.
“This one-of-a-kind collaboration will help expand access to credit and Axis Bank’s diverse digital financial offerings for Airtel’s 340 million customers. We will leverage Airtel’s extensive reach and services, from mobility and DTH to utility bill payment, giving our customers the opportunity to maximize value, while helping the digital economy exponentially. said Amitabh Chaudhry, MD, CEO of Axis Bank.
After the announcement, shares of Bharti Airtel Limited rose 2.91% to Rs 672 each on BSE in late trades.