Amazon Pay ICICI Bank credit card surpasses two million customers, BFSI News, ET BFSI

ICICI Bank and Amazon Pay have announced that the Bank has crossed the milestone of issuing two million ‘Amazon Pay ICICI Bank‘ credit cards. In the process. Having been introduced in 2018, the card has emerged as the fastest co-branded credit card to cross this milestone in the country.

The card also holds the record of being the fastest co-branded credit card in India to cross the milestone of one million issuances in October last year. Thereafter, the card has onboarded another one million customers in the last nine months, with over 80% of new customers availing the card completely digitally, without any physical interaction.

Any registered customer of Amazon.in, including those who are not customers of ICICI Bank, can apply for the card digitally, from anywhere in the country. This is among the first credit cards in India which introduced ‘Video KYC’ for customers in June 2020.

“The Amazon Pay ICICI Bank credit card has received an exciting response from customers across the country. The best-in-industry rewards, seamless access to credit and the easy onboarding process are the key contributors of this excitement.” said Sudipta Roy, Head – Unsecured Assets, ICICI Bank.

“At Amazon Pay, we are transforming the way customers make digital payments. The Amazon Pay ICICI Bank credit card is one of the most rewarding, convenient and trusted payment experiences in the country. Over 2 million customers have shown their trust in us and how they value the experience.” said Vikas Bansal, Director – Amazon Pay India.

The reward earnings are credited monthly, after the billing cycle date of the card to the customer’s Amazon Pay balance. They can redeem these earnings to purchase from more than 16 crore items available on Amazon.in across. The reward earnings can also be used with Amazon Pay partner merchants for transactions like flight tickets, booking hotels, food delivery, movie tickets and much more.

“We’re delighted that the Amazon Pay ICICI Bank credit card powered by Visa has crossed two million cards, with the last one million cards issued in less than a year, despite the ongoing pandemic. This reinforces the belief that consumers prefer cards that give them great rewards and ease of payment.” said Shailesh Paul, Head of Merchant Sales & Acquiring and CyberSource, India and South Asia, Visa.