Amazon Pay ICICI Bank credit card issuance crosses 20 lakh mark on Tuesday
Emerges as first co-branded card to achieve this
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.