A credit card was introduced by Samsung India and Axis Bank. In addition to additional benefits like access to airport lounges, reward points for the banking institution, and a 1% fuel fee waiver, the corporation is giving 10% cashback on purchases.
There are two tiers of service: Signature and Infinite. While the latter is limited to INR5,000 and INR20,000, the first has a monthly cashback cap of INR2,500 or INR10,000 annually. All Samsung items are included in the arrangement, including smartphones, smart wearables, laptops, TVs, refrigerators, washing machines, microwaves, and other appliances.
There is no maximum purchase amount or minimum transaction amount for Samsung. Only some channels will accept Cashback Credit, and it may take up to 60 days for it to show up on the user’s profile.
The new offering, according to Axis Bank CEO, aims to penetrate Tier 2 and Tier 3 cities in addition to the Top 10 cities. According to a Visa executive, 3 out of 4 Indians purchase at least one electronic device each year, spending about INR40,000.
On the specific page of the Samsung India website, applications for the Samsung Axis Credit Card will soon be available.