Axis Bank on Monday announced the launch of its ACE Credit Card in India in collaboration with Google Pay and Visa.

The card meant to help with digital payments. From application to issuance, with the entire user journey for the credit card application will be done digitally.

For essential use cases, including mobile recharges and bill payments made via Google Pay, users can earn a cashback.of 5 per cent. The company is also offering 4 per cent-5 per cent cashback for expenses on food ordering, online grocery delivery, cab rides for transactions made on partner merchant platforms such as Swiggy, Zomato, BigBasket, Grofers and Ola.

There is also an unlimited 2 per cent cashback on other transactions (terms and conditions applied).

“Users will be able to get cashback directly into their ACE Credit Card accounts. The tokenization feature enabled in partnership with Visa will allow Google Pay users to use their ACE Credit Card to make payments through a secure digital token attached to their phone without having to physically share their card details,” explained an official release.

Sanjeev Moghe, EVP & Head, Axis Bank Cards & Payments said: “This collaboration and product construct will help us widen our footprint through Google Pay and broaden credit card penetration, contributing to our commitment towards the vision of Digital India and the country’s evolution to a less-cash society”.

Eligible users can avail the card through the Google Pay app.

“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,” added Ambarish Kenghe, Senior Director - Product Management, Google Pay.

“Consumer attitudes towards credit cards are fast-changing,” said TR Ramachandran, Group Country Manager, Visa, India & South Asia said,

“This, combined with the large headroom that exists for expanding credit access and affordability, represents a significant opportunity. Today’s digital-first consumers expect simple, secure and intuitive payment experiences from credit cards – from application to issuance and transactions to rewards, and in online, in-app or in-store environments. We are excited to partner with Google Pay and Axis Bank to launch the ACE Credit Card, to enable secure, convenient and compelling product experiences for today’s customer,” Ramachandran further said.

A joining fee of ₹499 which is applicable from the second year of use will be waived for all users who apply for the card in 2020. In 2021, joining fee will be reversed if spends exceed ₹10,000 within 45 days of issuance, the bank said. The annual fee of ₹499 will also be waived off if for users who reach ₹2 lakh spends in the year.

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