Axis Bank, one of the leading private sector banks in India, has introduced the country’s first numberless credit card in collaboration with fintech startup Fibe (previously known as EarlySalary).
For years, credit and debit cards looked the same – displaying the account holder’s name, a 16-digit card number, and expiration dates, usually on the front, and a three-digit security code, called CVV, at the back. Nowadays, cards have come up with even more sleeker designs, with a tidy front and the numbers and CVV located at the back.
What will be different about this card?
Presenting a unique offering, Axis Bank and Fibe unveil a credit card without the traditional numbering. This innovative card will have no card number, expiry date, or CVV on the physical card itself, in fact, the plastic card will have only the embedded chip. However, users can access these details through the Fiber mobile application, this adds a level of security for customers, claims Fibe.
The bank says that this move minimizes the risk of identity theft or unauthorized access to our customers’ card information, guaranteeing complete security and confidentiality. Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, has said that this Axis Bank card will prioritize the security of its customers.
This card offers up to 3% cashback across different sections
The card provides a 3% cashback on “online food delivery through various restaurant aggregators, local commute on leading ride-hailing apps, and entertainment purchases on online ticketing platforms”. Additionally, the bank mentioned that you will receive a 1%cashback on all online and offline transactions, with the total amount of cashback restricted at Rs 1500 per month.
Moreover, this newly introduced credit card operates on the RuPay platform. This allows you to seamlessly connect it to any Unified Payments Interface (UPI) applications like Google Pay, Paytm, PhonePe, and more, enabling convenient online transactions.
The bank highlighted some of the other features of this card, such as complimentary access to four domestic airport lounges per year, a waiver for fuel surcharges between Rs 400 and Rs 5,000, as well as exclusive benefits like Axis Dining Delights, Wednesday Delights, End of Season Sales, and access to RuPay portfolio offerings available across all their cards.
Axis Bank-Fibe credit card: No annual Fee, How to Obtain it?
Fibe announces that this card will be exclusively accessible to their customers through the Fibe app. Axis Bank highlights that the newly introduced Axis Bank-Fibe co-branded credit card carries no joining fee and boasts zero annual fees for its entire lifespan.