: Samsung launches 10% cashback credit card #finance #StockMarketNEWS #Business Indo-Asian News Service New Delhi Samsung India on Monday announced its first-ever credit card in India in partnership

Posted in: #finance #StockMarketNEWS #Business

Samsung launches 10% cashback credit card #finance #StockMarketNEWS #Business
Indo-Asian News Service

New Delhi

Samsung India on Monday announced its first-ever credit card in India in partnership with Axis Bank and Visa, that will give customers 10% cashback across all Samsung products and services round the year.

The 10% cashback offer will be over and above the company’s offers, on both EMI andnon-EMI transactions.

“We realise that 70% of consumers are upgrading their devices within 12 months of purchase in the country. This co-branded credit card will help them save their hard-earned money while enjoying new devices with this industry-first offering,�? Raju Pullan, Senior Vice President, Mobile Business, Samsung India, said.

The annual fee for the card’s Signature variant is `500 with taxes and for the Infinite variant is `5,000 with taxes.

On the Signature variant, cardholders can avail up to `10,000 cashback annually, with a monthly cashback limit of `2,500.

On the Infinite variant, cardholders can avail up to `20,000 cash back annually, with a monthly cashback limit of `5,000.

Samsung India and Axis Bank have partnered with key merchants Bigbasket, Myntra, Tata 1mg, Urban Company and Zomato to bring more rewards to cardholders on theirdaily spends.

The card also offers complimentary airport lounge access, fuel surcharge waiver, dining offers and access to a bouquet of offers from Axis Bankand Visa.

There is no minimum transaction value, which means cardholders can get 10% cashback on the smallest of Samsung purchases.

“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,�? said Ken Kang, President and CEO, Samsung South-West Asia.

Amitabh Chaudhry, MD and CEO, Axis Bank, added that their focus is to offer product propositions that cater to our customers’ ever evolving needs and give them a seamless experience.