Amazon Pay ICICI Bank credit card issuance crosses 20 lakh mark on Tuesday

Our Bureau Updated - July 08, 2021 at 11:29 AM.

Emerges as first co-branded card to achieve this

A security guard wearing a protective mask stands at the entrance to an ICICI Bank Ltd. branch in a near-empty Connaught Place during a partial lockdown imposed due to the coronavirus in New Delhi, India, on Thursday, May 14, 2020. India spelled out the details of its massive rescue package that will initially help small businesses and utility companies as Prime Minister Narendra Modi gears to restart the economy cratered by the coronavirus pandemic. Photographer: Prashanth Vishwanathan/Bloomberg

ICICI Bank and Amazon Pay on Tuesday announced that the lender has crossed the 20 lakh mark for issuing ‘Amazon Pay ICICI Bank’ credit cards.

“In the process, the card has emerged as the fastest co-branded credit card to cross this milestone in the country,” they said in a statement.

It crossed the 10 lakh milestone for issuances in October last year. The card has on-boarded 10 lakh customers in the last nine months, with over 80 per cent of new customers availing the card completely digitally, without any physical interaction.

Amazon Pay and ICICI Bank introduced the card, powered by Visa, in October 2018.

“With the introduction of Video KYC in June 2020, many new-to-bank customers applied for the card from various parts of the country, which significantly boosted the user base...We believe the card is well poised to become the largest co-branded credit card in the country,” said Sudipta Roy, Head – Unsecured Assets, ICICI Bank.

Published on July 6, 2021 13:55