Axis Bank and Fibe launch numberless credit card in India

India-based Axis Bank and fintech Fibe have partnered to launch a numberless credit card for tech savvy Gen Zs in India

India-based Axis Bank and fintech Fibe have partnered to launch a numberless credit card for tech savvy Gen Zs in India. By using a numberless credit card, customers benefit from heightened security since it lacks a printed card number, expiry date, or CVV.

This absence of important details significantly lowers the risk of identity theft or unauthorised access, ensuring unparalleled security and privacy for customers. Accessible through the Fibe app, customers can effortlessly manage their Fibe Axis Bank Credit Card details, retaining complete control over their information. Features of the new offer The power-packed co-branded credit card offers industry-best features like cashback of flat 3% on online food delivery across all restaurant aggregators, local commute on leading ride-hailing apps and entertainment on online ticketing platforms.

In addition, customers also get a 1% cashback on all online and offline transactions. The card is powered by RuPay, which allows the customer to link this credit card to UPI. The card is accepted across all offline stores in addition to all digital platforms.

It also offers the tap-and-pay feature for added convenience. Furthermore, it has zero joining fee and zero annual fee for lifetime. This card will be available to Fibe’s existing 2.1 million+ customers.

Some of the other features of this card include access to four domestic airport lounges per quarter, fuel surcharge waiver for fuel spends between USD 4.8 and USD 60, as well as the added advantage of Axis Dining Delights, Wednesday Delights, End of Season Sales, and RuPay portfolio offerings available across all their cards. Axis Bank officials express their dedication to increasing formal credit access in India through customer-focused initiatives. Their partnership with Fibe marks a significant step in this direction, allowing them to cater to a growing customer base.

The introduction of the numberless Axis Bank card emphasises customer security while providing a strong financial solution tailored for India's tech-savvy youth. This aligns with their broader banking strategy, aiming to foster inclusivity and enhance accessibility for a diverse consumer segment. Also commenting on this partnership, Fibe’s team said they are happy to introduce India's first numberless credit card, in association with Axis Bank.

This solution represents a significant stride in their commitment to offering secure and inclusive financial solutions to the ambitious youth of India. They aim to empower their users with a safe and secure payment ecosystem clubbed with the convenience of UPI payments thereby establishing a fresh benchmark in the credit card industry. Already a big player in the personal loan for salaried professionals’ segment, Fibe now ventures into the expansive credit card market.

It raised USD 110 million in its 2022 Series D funding and is now widening its geographic reach and diversifying its offering. .

Oct 11, 2023 12:59
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