Samsung India has announced a credit card in partnership with Axis Bank. The company offers a 10% refund on purchases, as well as other benefits such as reward points to the financial institution, access to airport lounges and a 1% fuel surcharge waiver.
The service is divided into two levels: Signature and Infinite. The former has a monthly cashback limit of INR2,500 or INR10,000 per year, while the latter is set at INR5,000 and INR20,000. The agreement covers all Samsung products: smartphones and smart wearables, laptops, televisions, refrigerators, washing machines, microwaves and other appliances.
There is no minimum transaction amount and no limit on Samsung purchases. Cashback credit will take up to 60 days to appear in the user’s profile and will only work on selected channels.
Axis Bank CEO revealed that the new product aims to extend beyond the top 10 cities and achieve penetration in Tier 2 and Tier 3 cities. A Visa executive revealed that 3 out of 4 Indians buy at least one home appliance and spend around INR40. 000 per year.
Applications for the Samsung Axis credit card will open shortly on the dedicated page of the Samsung India website.
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