Mumbai, 11 July 2019: E-commerce marketplace Flipkart and Axis Bank have partnered to launch an exclusive co-branded credit card, powered by Mastercard. The credit card offers customers best-in-class benefits and unlimited cashback on all spends, online and offline. This partnership is the latest effort from Flipkart, Axis Bank, and Mastercard to improve access to credit and further expand the fast developing credit card ecosystem in India.

The credit card is designed to cater to both credit-worthy Indians, as well as sections of the population who have not accessed formal credit before. The card will be available for select users in July, with plans to open the program to all customers over the coming weeks. Customers can also experience a seamless journey, from instant card issuance to transaction completion.

Key Benefits and Features

The card offers industry-leading benefits, with cashback auto-credited every month in the customer's statement.

Kalyan Krishnamurthy, CEO of the Flipkart Group, stated that the card reiterates their commitment to driving access to formal credit in India. Amitabh Chaudhry, MD & CEO, Axis Bank, mentioned the partnership helps them expand credit access and deepen their geographic reach targeting a larger customer segment.

About Axis Bank

Axis Bank is the third largest private sector bank in India. It has 4,050 domestic branches (including extension counters) and 11,801 ATMs across the country as of March 31, 2019.

About Mastercard

Mastercard is a technology company in the global payments industry with a network that connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.

About Flipkart Group

The Flipkart Group includes Flipkart, Myntra, Jabong, and PhonePe. It has a registered customer base of over 150 million, offering over 80 million products across 80+ categories.