October 10, 2023
- A ground-breaking collaboration introduces Fibe Axis Bank Credit Card
- Fibe’s tech arm Social Worth Technologies Pvt. Ltd. partners with Axis Bank to launch this card
- RuPay-based Card allows UPI Credit Card Payments
- Enables Fibe’s existing 2.1 million+ customers to have access to this card
Axis Bank, one of the largest private sector banks in India and Fibe, (formerly known as EarlySalary), India’s leading Fintech, today partnered to launch India’s first-ever numberless credit card for tech-savvy Gen Zs.
With a numberless credit card, customers get an added level of security as there is no card number, expiry date, or CVV printed on the card plastic. This reduces the risk of identity theft or unauthorised access to customer's card details ensuring
absolute security and privacy. Customers can easily access their Fibe Axis Bank Credit Card details on the Fibe app, giving them complete control over their information.
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,
this card 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 Rs. 400 and Rs. 5,000 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.
Speaking on this announcement, Sanjeev Moghe, President & Head - Cards & Payments, Axis Bank, said, “Axis Bank is a full suite cards & payments player, and we continue to build on innovation led partnership models.
We are committed to drive access to formal credit in India with various offerings that benefit our customers. We are delighted to partner with Fibe in this ground-breaking market revolution, with an opportunity to serve an expanding customer
base. This numberless Axis Bank card will prioritize the security of our customers while offering a robust financial solution that empowers the smart and ambitious youth of our nation. Our overarching banking strategy of being connected aims
to foster inclusivity and enhance accessibility for the diverse and growing consumer segment."
On this partnership with Axis Bank, Akshay Mehrotra, Co-Founder and CEO of Fibe said, “We take great pleasure in introducing India's first numberless credit card, in association with Axis Bank. This exceptional card represents
a significant stride in our commitment to offering secure and inclusive financial solutions to the ambitious youth of India. We aim to empower our 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 leader in the personal loan for salaried professionals’ segment, Fibe now ventures into the expansive credit card market. It raised $110 million in its Series D funding last year and is now widening its geographic reach and diversifying
its offering. The fintech was recently titled as the Best Startup in Fintech in the G20 Digital Innovation Alliance Mega Summit.
