On October 12, 2020 Axis Bank Limited in collaboration with Google Pay and Visa launched its ACE Credit Card in India. The card is designed to increase participation of users in the digital economy. It also aims to bring a seamless, digital experience to users from application to issuance.
The tokenization feature has been enabled in partnership with Visa. This will allow the users of Google Pay to use their ACE Credit Card to make payments through a secure digital token attached to their phone without the need to share their card details physically.
Joining & Annual Fees
i.Users who apply for the card in 2020, need not pay the joining fee of Rs 499, that is applicable from the second year of use.
ii.The joining fee will be reversed, if expenses exceed Rs 10,000 within 45 days of issuance in 2021.
iii.Users who reach Rs 2 lakh spends in the year, need not pay the annual fee of Rs 499.
- Eligible users can avail this card through google pay app.
- Users of this card will see a credit card option in their google pay app.
- The entire user journey for the credit card application will be done digitally.
Benefits of the ACE Credit Card
i.An unlimited 2%cashback on other transactions (terms and conditions applied) can be availed.
ii.Users will get 5% cashback on bill payments, mobile recharges and DTH recharges on Google pay and 4% on Swiggy, Zomato & Ola.
iii.As an introductory offer, 5% cashback will be provided on big baskets and grofers. This is valid till December 31, 2020.
iv.The cashback will be directly made into the user’s ACE Credit Card accounts.
Fuel surcharge waiver
On fuel purchases users will get 1% fuel surcharge waiver at all the fuel stations across India
Purchase converted to EMI
The transaction of Rs 2500 or more can be converted into EMI
Other benefits include 4 complimentary lounge visits at selected domestic airports among others.
Recent Related News:
BOB Financial Solutions Limited partnered with Innoviti Payment Solutions Pvt. Ltd to launch New Credit Card Equated Monthly Installments(EMI) offering on Point of Sale(POS) terminals. The association of Bank of Baroda(BOB) Credit Card with Innoviti Payment Solutions will enable BOB credit card holders to access EMIs that can be repaid conveniently through their credit cards.
About Axis Bank Limited:
HeadQuarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO) – Amitabh Chaudhry