Indian private sector lender Axis Bank has forged a partnership with Google Pay and Visa to roll out new credit card, which offers cashbacks and more.
Dubbed ACE Credit Card, the new credit card allows Google Pay users to earn 5% cashbacks on electricity, internet, gas bill payments, and others.
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It also offers a 4% cashback on food ordering and cab rides, and a 2% unlimited cashback on all other transactions.
The ACE credit comes with a joining fee of INR499, which has been waived off for people who apply this year.
In 2021, the joining fee charged will be refunded if cardholders spend more INR10,000 in the first 45 days.
Cardholders also get INR500 cashback on first three transactions worth a minimum of INR500 each, within the same period.
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By GlobalDataThe annual fee in the second year will not be charged if the cardholder spends INR200,000 in the year.
The card also offers a 1% fuel surcharge waiver of up to a maximum of INR500 per month, on spending INR400-4,000.
Cardholders can also enjoy access to lounges at participating domestic airports four times a year.
Commenting on the launch, Axis Bank cards and payments EVP and head Sanjeev Moghe said: “We have been continuously working on innovation-led partnership models to offer digital banking solutions to customers.
“In this effort, we are delighted to have collaborated with Google Pay and Visa to launch the ACE Credit Card, one of the most rewarding credit cards in its segment, that not only offers exclusive benefits and rewards, but is also designed to suit the needs of the users who want to participate in the digital economy, offering frictionless onboarding and usage experience.”
Google will use the tap-to-pay feature for the ACE Credit Card when payments are made via Google Pay.
Google Pay senior director of product management Ambarish Kenghe said: “We are excited to work with Axis Bank and Visa, to build on our efforts to bring helpful new features and products to our users.
“With ACE Credit Card, we are bringing a seamless application experience that is designed keeping the needs of users in mind.
“Users will start seeing the ‘Credit Card’ option in their Google Pay app as we start rolling this offering out across India. We will continue to refine the product as we get inputs from the users.”
