ICICI Bank and Amazon Pay announced that the Bank has reached the milestone of issuing 2 million ICICI Bank Amazon Pay credit cards.
The credit card has become the fastest co-branded credit card to pass this milestone in the country. Amazon Pay and ICICI Bank launched the card, powered by Visa, in October 2018. The card has onboarded a million additional customers in the past nine months, with over 80% of new customers using the card entirely digitally , without any physics. interaction.
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Benefits include an unlimited and everlasting rewards program, instant card issuance for select customers in less than 60 seconds, direct crediting of rewards points to Amazon Pay balance, and contactless payment functionality to help customers to pay securely.
Customers can apply for the ICICI Bank Amazon Pay credit card on the Amazon.in website or mobile app. They get a digital card in a 100% contactless and paperless way. The physical card is also sent to the customer by ICICI Bank within a few days.
ICICI Bank and Amazon Pay have added features to the card to improve customer convenience. Any registered Amazon.in customer, including those who are not ICICI Bank customers, can apply for the card digitally from anywhere in the country. New customers can be onboarded by ICICI Bank through a Video KYC facility in a secure and contactless manner.
It is one of the first credit cards in India which introduced Video KYC for customers in June 2020. Since then the card has been gaining encouraging acceptance across the country mainly in cities such as Delhi NCR, Mumbai, Pune, Bengaluru and Hyderabad.
Sudipta Roy, Head of Unsecured Assets, ICICI Bank, said, “The ICICI Bank Amazon Pay credit card has received an enthusiastic response from customers across the country. Industry rewards, transparent access to credit and easy onboarding process are major contributors to this enthusiasm. With the introduction of Video KYC in June 2020, many new banking customers applied for the card in various parts of the country, which greatly increased the user base.
#Justin: We are delighted to announce that #ICICIBank reached the milestone of issuing two million #AmazonPayICICIBankCreditCards. In the process, it became the fastest co-branded credit card to reach that milestone in the country.#CelebrateTheMilestone pic.twitter.com/feiL2TsXDN
– ICICI Bank (@ICICIBank) July 6, 2021
He further added, “In October last year, the card became the fastest co-branded credit card in India to pass the million issuance milestone. It has now become the fastest co-branded credit card to cross two million issues, with the last million cards issued in less than a year. More than 80% of these new customers used the card entirely digitally, without any physical interaction. We believe the card is well positioned to become the largest co-branded credit card in the country. »
Key Features of ICICI Bank Amazon Pay Credit Card
Free credit card for life with no membership fees or annual fees
Offers unlimited rewards points on card spend based on spend category
Amazon Prime members earn 5% reward points and all other customers who shop on Amazon.in earn 3% reward points
Offers 2% reward points for spending on digital categories on Amazon.in, such as bill payments, top-ups, adding money to Amazon Pay balance, travel and movie bookings
Also offers 2% for spend on Amazon Pay merchants e.g. Swiggy, Bookmyshow, Yatra and many more
Provides 1% rewards points for spending at any merchant in the country where Visa cards are accepted. Customers also benefit from a fuel surcharge waiver and free EMI offers on a wide selection. No earnings on fuel, EMI transactions and gold purchases.
One reward point is equal to Re 1 and there is no upper limit on the reward points that can be accumulated
Reward points do not expire and can be redeemed for over 16 million products on Amazon.in and other merchants that accept payment through Amazon Pay
The card can be used at over 4 million outlets in India – wherever you shop
Reward earnings are credited monthly, after the card’s billing cycle date, to the customer’s Amazon Pay balance. They can redeem these earnings to buy from more than 16 crores of items available on Amazon.in. Reward earnings can also be used with Amazon Pay merchant partners for transactions such as airline tickets, hotel reservations, food delivery, movie tickets and more.