Bharti Airtel Ltd, India’s leading telecommunications service provider, and Axis Bank, the third largest private sector bank in India, have today established a strategic alliance to drive the development of India’s digital sector through a variety of products financial.
Airtel and Axis Bank will introduce a range of new digital financial products and services specifically aimed at Airtel’s more than 340 million users in the coming months, with the aim of accelerating the adoption of digital payments in the country. Co-branded credit cards with cutting-edge benefits, pre-approved instant loans, buy now, pay later options and more will be available. With its huge presence in the country’s market, the partnership will contribute to the development of the Tier 2 and Tier 3 sectors by enabling wider acceptance of digital payments.
“Aiming to accelerate the adoption of digital payments in the country, over the coming months, Airtel and Axis Bank will bring to market a range of innovative financial offers and digital services exclusively for the more than 340 million Airtel customers. credit card with industry-leading benefits, pre-approved instant loans, buy now pay later offers and more. 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,” the official statement reads.
The collaboration kicked off today with the introduction of the first Airtel Axis Bank credit card, which will provide Airtel users with a host of attractive benefits such as cash back, special discounts, digital vouchers and complementary services.
Here is the acceleration of the adoption of #Digital Payments!
— Bharti Airtel (@airtelnews) March 7, 2022
According to the official statement, Airtel Axis Bank credit card customers will receive the following enticing rewards on their card spending.
- 25% discount on Airtel Mobile/DTH recharges, Airtel Black payments and Airtel Xstream Fiber.
- 10% discount on electricity/gas/water bill payments via Airtel Thanks app.
- 10% cash back on spend at favorite merchants – BigBasket, Swiggy, Zomato.
- 1% cashback on all other expenses.
- Amazon e-Voucher INR 500 on card activation within 30 days of issuance.
This credit card will be offered digitally only to eligible Airtel customers through the Airtel Thanks app.
“In addition, 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 concealment and virtual contact center solutions, to enhance digital capabilities. Axis Bank will also use various cybersecurity services from Airtel. Going forward, companies will further explore collaboration between Cloud and Data Center services,” the statement said. official.
Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel said, “Airtel is building a formidable portfolio of financial services as part of its efforts to deliver world-class digital services to its customers. We are delighted to partner with Axis Bank on this exciting journey. 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 the strong digital capabilities and reach of Airtel’s extended distribution.
Commenting on the partnership, Amitabh Chaudhry, MD&CEO, Axis Bank said, “At Axis Bank, we constantly strive to improve value for our stakeholders. This one-of-a-kind collaboration will help expand access to credit and Axis’ diverse digital financial offerings. Bank for Airtel’s 340 million customers. On the other hand, we will leverage Airtel’s extensive reach and services ranging from mobility and DTH to utility bill payments, giving our customers the opportunity to maximize value, while helping the economy exponentially numerical.
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Article first published: Monday, March 7, 2022, 3:15 p.m. [IST]