Airtel ties up with Axis Bank to launch co-branded credit card, Telecom News, ET Telecom

NEW DELHI: Bharti Airtel Monday signed a strategic partnership with Axis Bank to launch a co-branded credit card with “industry-leading benefits” exclusively for Airtel‘s 340 million-plus customer base.

The ‘Airtel Axis Bank Credit Card’ will offer benefits such as cashbacks, special discounts, digital vouchers, and complimentary services to the telco’s customers.

Airtel Axis Bank Credit Card users can also get rewards on their card spends, including a 25% cashback on Airtel Mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments; a 10% cashback on electricity/gas/water bill payments via Airtel Thanks app; a 10% cashback on spends with preferred merchants – BigBasket, Swiggy, Zomato, and a 1% cashback on all other spends.

But to avail of the benefits, a user has to pay a nominal joining fee of Rs 500. Users will also get an Amazon e-Voucher of Rs 500 on card activation within 30 days of issuance, as per an official statement.

The companies are aiming to accelerate the adoption of digital payments in the country, and over the coming months, Airtel and Axis Bank aim to launch new financial offerings and digital services exclusively for the telco’s customers, as per an official statement.

These solutions will include pre-approved instant loans, Buy Now Pay Later (BNPL) offerings, among others.

“Through this win-win telco-bank partnership, Airtel customers will get 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 deep distribution reach,” said Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel.

“By leveraging existing network infrastructure, differentiation can further be created through data centre and cloud offerings. Having software-driven networks that use AI/ML, predictive analytics, and automation allows CSPs (communication service providers) to provide faster, predictable, and secure networks,” Bharti Airtel’s B2B unit said in its report.

“This one-of-its-kind collaboration will help widen the access to credit and various digital financial offerings from Axis Bank for Airtel’s 340 million customers,” said Amitabh Chaudhry, MD & CEO, Axis Bank. Additionally, Axis Bank will leverage Airtel’s suite of digital services such as its CPaaS platform — Airtel IQ which spans voice, messaging, video, streaming, call masking. and virtual contact center solutions, to enhance digital capabilities.

Axis Bank will also use various cyber security services from Airtel. Going forward, the companies will further explore collaborating across Cloud and Data Center services.