New Delhi: Samsung, a South Korean electronics manufacturer, released a Visa-enabled credit card in India in collaboration with Axis Bank. Customers will be able to use the card to receive an annual 10% cashback on all Samsung goods and services. It will be in addition to the current Samsung offerings, which apply to both EMI- and non-EMI purchases.
“We’re excited to be able to put the control into our consumers’ hands,” Ken Kang, president and CEO for South-West Asia, Samsung, said at the launch of the card.
All Samsung items, including smartphones, tablets, laptops, televisions, refrigerators, air conditioners, and washing machines, will be eligible for the cashback. Additionally, Samsung services like payments for repair centres, Samsung Care+ mobile protection plans, and extended warranties will be eligible for the cashback.
The 10% cashback advantage will be accessible all year long.
The cashback will be usable online on Flipkart, Samsung Shopping, and the Samsung web platform. Additionally, it will be used at a few offline stores that sell Samsung devices via Pine Labs and Benow’s payment systems. The rebate is also available physically and online at accredited Samsung Service Centers.
The card is offered to the general public in two variations: Visa Signature and Visa Infinite.
Customers who choose the Signature variation are eligible to receive up to Rs 10,000 in cashback annually, with a maximum of Rs 2,500 in cashback every month.
With a monthly cap of Rs 5,000 on the Infinite option, an annual payback of Rs 20,000 is permitted. Neither card has a set minimum transaction amount. On each purchase made using the new cards, users will receive Edge Reward Points.
According to Samsung, the cards will also grant clients access to airport lounges, a remission of fuel surcharges, and dining offers.
Taxes not included, the annual charge for the Signature variant is Rs 500, while the Infinite variant is Rs 5,000. (excluding taxes).
“Through this co-branded credit card, in partnership with Samsung India and Visa, we are reiterating our commitment to drive access to formal credit in India, tapping the wide reach of Samsung India that extends beyond top 10 cities and aids our objective of card penetration into tier 2 & 3 cities,” said Amitabh Chaudhry, MD and CEO, Axis Bank.
