Axis Bank has joined with Google Pay and Visa to launch a new ACE Credit Card. The company mentioned that the ACE Credit Card is intended for the growing and developing a base of clients who are keen to participate in the digital economy.
Axis Bank stated that the clients will earn a 5% as cashback reward on bill payments through Google Pay. Moreover, customers additionally get 4% to 5% cashback for spends made on the day by day use categories, for example, ordering food, online grocery shopping, taxi rides for exchanges made on partner merchant platform, for example, Swiggy, Zomato, BigBasket, Grofers, and Ola. In addition to this, clients will get an unlimited 2% cash back on every other transaction.
The company stated that the clients will have the option to get cashback directly into their ACE Credit Card accounts. Also, the tokenization feature includes empowering the partnership with Visa, which will permit Google Pay clients to utilize their ACE Credit Card to make payments through a protected digital token connected to their phone without having to physically share their card details.
The ACE Credit Card can be availed by qualified customers through the Google Pay application. The ACE Credit Card will be accessible for a joining of ₹499, which the company mentions will be waived for all candidates in 2020. In 2021, the joining fee switched if spending exceeds ₹10,000 within 45 days of issuance. The yearly charges will remain at ₹499, which is appropriate from the second year of use. This fee will be waived if the spending surpasses ₹2 lakh a year. As far as the cashback offers are concerned, clients will get an unlimited number of 5% cashback on recharges and bill pay exchanges, which incorporates electricity, internet, gas, DTH, mobile recharge, and much more, made through Google Pay. Clients will get an unlimited 4% cashback on online food delivery, for example, Zomato, Swiggy, and taxi rides, and Ola. Clients will get an unlimited 2% on every other transaction.
As far as the fuel surcharge waiver, clients will get a 1% fuel surcharge waiver with an extreme advantage of up to ₹500 every month. Clients will get an unlimited 5% cashback on Grofers and BigBasket and ₹500 cashback following 3 transactions within 45 days of card issuance. Ultimately, clients will likewise get lounge benefits. This incorporates complimentary lounge access four times each year at the participating domestic airports.
