Airtel and Axis Bank To Enhance Digital Ecosystem in India

Bharti Airtel, India’s communications solutions provider, and Axis Bank, India’s third-largest private sector bank, announced a partnership “to strengthen the growth of India’s digital ecosystem through a range of financial solutions.”

In a bid to accelerate adoption of digital payments in India, over the coming months, Airtel and Axis Bank will “bring to market a range of innovative financial offerings and digital services exclusively for Airtel’s 340 million plus customers.”

These will reportedly include co-branded credit card with various benefits, pre-approved instant loans, and Buy Now Pay Later offerings. The alliance, with its extensive reach across the country will “help penetrate tier 2 and tier 3 markets by enabling higher adoption of digitized payments.”

The partnership was started with the launch of the ‘Airtel Axis Bank Credit Card’ that will offer “a host of attractive benefits such as cashbacks, special discounts, digital vouchers and complimentary services to Airtel customers.”

Airtel Axis Bank Credit Card users will enjoy various rewards on their card spends:

  • 25% cashback on Airtel Mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments
  • 10% cashback on Electricity/Gas/Water bill payments via Airtel Thanks app
  • 10% cashback on spends with preferred merchants – BigBasket, Swiggy, Zomato
  • 1% cashback on all other spends
  • Amazon e-Voucher INR 500 “on card activation within 30 days of issuance”
  • This credit card will be “exclusively available for eligible Airtel customers through a seamless digital journey on the Airtel Thanks app.”

Axis Bank will also leverage Airtel’s suite of digital services such as its C-PaaS platform – Airtel IQ which “spans voice, messaging, video, streaming, call masking and virtual contact center solutions, to enhance digital capabilities.”

Axis Bank will use cybersecurity services from Airtel. Moving forward, the firms “will further explore collaborating across Cloud and Data Center services.”

Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel said:

“Airtel is building a formidable financial services portfolio as part of its endeavor to offer world-class digital services to its customers. We are delighted to join forces with Axis Bank in this exciting journey. 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.”

Amitabh Chaudhry, MD and CEO, Axis Bank added:

“At Axis Bank, we are constantly striving to enhance value for our stakeholders. 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. On the other hand, we will leverage Airtel’s widespread reach and services ranging from mobility and DTH to utility bill payments offering our customers the opportunity to maximize value, while also aiding the digital economy exponentially.”

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