Bharti Airtel and Axis Bank have announced a strategic partnership to bring to market a range of financial offerings and digital services exclusively for Airtel’s more than 34 crore customers. The tie up will also cover future collaboration on cyber security and data and cloud centres.
Financial offerings will include co-branded credit cards , pre-approved instant loans and buy now pay later offerings among others.
“The alliance, with its significant reach across the country, will help penetrate tier-2 and tier-3 markets by enabling higher adoption of digitised payments,” said a press release.
The partnership was kicked-off on Monday with the launch of the ‘Airtel Axis Bank Credit Card’ that will offer benefits such as cashbacks, special discounts, digital vouchers and complimentary services to Airtel customers.
The rewards that Airtel Axis Bank Credit Card users will have on their card spends include — 25 per cent cashback on Airtel Mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments, 10 per cent cashback on electricity/gas/water bill payments via Airtel Thanks app and 10 per cent cashback on spends with preferred merchants like BigBasket, Swiggy, Zomato, etc.
The credit card will be available for eligible Airtel customers via the Airtel Thanks app. Additionally, Axis Bank also plans to leverage Airtel’s digital services to enhance their digital capabilities, according to the press note.
Gopal Vittal, MD and 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 said, “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 maximise value, while also aiding the digital economy exponentially.”