August 12, 2024
- First credit card proposition tailored for ultra-high net worth individuals
- Primus will be offered by invitation only, by Axis Bank
Axis Bank, one of the largest private sector banks in India, has partnered with Visa, the global leader in digital payments, to launch ‘Primus’ – an ultra-premium credit card designed to redefine luxury. The new super-premium card, Primus, will be offered by invitation only, to select, ultra-high net worth, Axis Bank customers. For the first time in India, customers will have access to globally acclaimed, bespoke privileges & benefits curated under the Visa Infinite Privilege offering.
India’s GDP has surged to approximately $3.5 trillion[ 1 ], positioning it among the world’s largest economies. This economic growth has fostered substantial wealth accumulation, with a record 200 Indians making it to Forbes 2024 World’s billionaire’s list[2] and India is set to have approximately 16.3 lakh millionaires by 2026[3]. According to a recent report, India’s ultra-high-net-worth individuals (UHNWI) with net worth over $30 million will rise by over half (58.4%) in the next five years.
Ultra-high net worth individuals have distinct and complex banking needs that require specialized services beyond those provided to other clients. The Primus credit card is thus designed to appeal to India’s wealthy elite and their distinct tastes for style, exclusivity and access.
The new top-of-its-class proposition from Axis Bank and Visa marks an entry into an exclusive segment of ultra-high net worth consumers, setting a new standard in experiences. The proposition, inter alia, offers carefully curated luxury experiences for this set of discerning, sophisticated consumers such as select culinary journeys and custom-made travel itineraries, private jet access, companion tickets and invitations to exclusive events such as exclusive product launches, music concerts and private art exhibitions.
PRIMUS was introduced to select clients in New Delhi and Mumbai at ‘Axis Bank PRIMUS Soiree’. Set in an elegantly crafted evening, the launch of ‘Primus – the rarest metal’ was studded with elite corporate leaders and celebrities of India.
Speaking on the unveiling, Arjun Chowdhry, Group Executive & Head- Affluent Banking, Retail Assets, Cards & Payments, Axis Bank, said, “One of the key focus areas in our strategy is the premiumization of our client portfolio to accelerate the Bank’s growth. We have created a distinct value proposition with ‘Burgundy Private’ and have a suite of premium credit card products to cater to the needs of our affluent clients. Now, with the launch of the first of its kind credit card, PRIMUS, with unparalleled access, personalized concierge, luxury rewards, private and curated experiences, we will be able to meet and exceed the bespoke needs and expectations of the most discerning of India’s elite.”
“In partnership with Visa, we are happy to bring to India a globally acclaimed privileges and benefits platform, with the Visa Infinite Privilege offering, through our PRIMUS credit card.”, he further added.
Speaking on the occasion, Sandeep Ghosh, Group Country Manager, Visa India and South Asia, said, "We are delighted to introduce our uber-premium credit card proposition for the most discerning and sophisticated consumers in India. Axis Bank is our first partner on the Visa Infinite Privilege proposition. The Axis Primus Card offers unique privileges and unparalleled experiences, backed by the promise, trust and global acceptance of the Visa brand. We believe this offering will elevate and exceed expectations of our cardholders at every turn."
The allure of ‘Primus’ credit card is rooted in its bespoke benefits specifically tailored for Ultra High Net Worth (UHNW) individuals making it the ultimate experiential card for India’s elite.
Cardholders will be privy to a host of exclusive benefits, some of which are:
- Unforgettable culinary experiences: Preferential access to over 10,000 global restaurants, including coveted tables and last-minute reservations at Michelin-star establishments and the world’s top 50 restaurants.
- Curated global events: Invitations to private art gallery tours, global sporting events to restaurant takeovers, exclusive menus and access to limited edition fashion experiences hosted by personal shoppers.
- Travel redefined: Curated travel itineraries such as flying safaris, ski vacations, with exclusive access to private jets.
- Luxury Hotels: Access to the best global hotels at preferential rates and other value-adds, routed through a world-class concierge service with complimentary perks for bookings.
[1]India to become third largest economy with GDP of $5 trillion in three years: Finance Ministry
[2] Indian billionaires soar to record high: Forbes
[3]Credit Suisse: The Global Wealth Report
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