During India’s ongoing festive sales season, tech giant Samsung on Monday launched an exclusive co-branded credit card with Axis Bank, which is powered by Visa. Named Samsung Axis Bank Credit Card, the card would allow shoppers to enjoy 10% cash back on Samsung products ranging from smartphones, tablets, laptops, televisions and large appliances such as refrigerators, air conditioners and machinery. to wash.
According to Samsung, the 10% cashback offer on the Samsung Axis Bank credit card will be applicable in addition to the existing offers the company already offers, on both EMI and non-EMI transactions.
“At Samsung, we believe in transforming the lives of our consumers through the power of innovation. The Samsung Axis Bank Credit Card, powered by Visa, is our next big India-specific innovation that will change the way our customers buy Samsung products and spend on services with a series of industry-leading features. We are thrilled to be able to put control in the hands of our consumers,” said Ken. Kang, president and CEO of Samsung Southwest Asia, in a statement.
The kind of offer Samsung offers with its first co-branded credit card is usually offered by e-commerce platforms like Amazon.in and Flipkart during holiday sales.
“Axis Bank is a complete cards and payments player, and we continue to rely on innovation-driven partnership models. Our goal is to offer product propositions that meet the ever-changing needs of our customers and provide them with a seamless experience. Through this co-branded credit card, in partnership with Samsung India and Visa, we reiterate our commitment to fostering access to formal credit in India,” said Amitabh Chaudhry, MD and CEO of Axis Bank.
The South Korean tech giant sells electronics ranging from smartphones to washing machines in India, but its business is driven by smartphone sales. No less than 72% of its total revenue of $9.3 billion in 2020-2021 in the country would come from smartphone sales.