Samsung has rolled out its first credit card in India in partnership with CardAxis Bank and Visa.
The new Samsung Credit Card will offer cashback and rewards on purchases made using Samsung Pay.
Samsung’s big move is to tap into India’s growing digital payments market. With more and more people using their smartphones to make payments, Samsung is looking to capitalize on this trend.
The Samsung Credit Card will be available to all customers who have a Samsung phone and are using the Samsung Pay app.
Once linked, customers can start earning cashback and rewards on all their purchases made through Samsung Pay. There is no annual fee for the credit card, and customers can choose from various repayment options.
Samsung will feature over 10% cashback on the income from a credit card full of complimentary services and rewards. This card will provide perks such as lounge entry and a complimentary 1% fuel surcharge waiver.
Customers can earn loyalty points for spending through their credit cards and get discounts for shopping at local businesses, including food delivery and fashion retailers Myntra and Zomato, medical store Tata s 1mg, grocer Bigbasket, and home and furniture retailer Urban Company.
Samsung, which claims to be one of India’s largest consumer electronics companies, sells various products, from smartphones to washing machines. But more than 72 of its total Indian revenue of $9.3 billion in 2020-21 came from smartphones.
Samsung Axis Credit Card applications are available on the official Samsung website.