Axis Bank, one of India’s leading private sector banks, has partnered with fintech startup Fibe to launch India’s first numberless credit card. The card, which is powered by the RuPay network, does not have its number, expiry date, or CVV printed on it, boosting security and privacy, says Axis. The card is being offered to Fibe’s two million customers, most of whom are younger professionals who fintech for personal loans.
What is a numberless credit card?
What distinguishes this card is its distinctive numberless design. The physical card omits the display of card number, expiry date, or CVV number, ensuring the cardholder’s identity remains protected. This anonymity substantially diminishes the risk of fraudulent use and identity theft. By eliminating visible numbers on the card, we greatly enhance both your security and privacy.
The co-branded credit card provides a range of benefits, including a fixed 3% cashback on online food delivery from various restaurant aggregators, local rides through major ride-hailing apps, and entertainment purchases on online ticketing platforms. Furthermore, customers receive a 1% cashback on all transactions, whether conducted online or offline.
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 fees and zero annual fees for lifetime. This card will be available to Fibe’s existing 2.1 million+ customers, the lenders said.
How does the Fibe Axis Bank numberless credit card work?
Customers can access their Fibe Axis Bank credit card details on the Fibe app. This allows them to view their card number, expiry date, and CVV whenever they need to make an online purchase or pay for a service over the phone. Customers can also use the Fibe app to lock and unlock their card, set spending limits, and track their spending.
Benefits of the Fibe-Axis Bank numberless credit card
The Fiber Axis Bank numberless credit card offers several benefits to customers, including:
- Increased security: The card’s numberless design makes it more secure than traditional credit cards, as it reduces the risk of identity theft and unauthorized access to cardholder information.
- Convenience: Customers can access their card details on the Fibe app, making it easy to make online purchases and pay for services over the phone.
- Control: Customers can use the Fibe app to lock and unlock their card, set spending limits, and track their spending.
Some of the other features of this card include access to four domestic airport lounges per year, a 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.
Akshay Mehrotra, Co-Founder and CEO of Fibe, commented on this relationship with Axis Bank, saying, “We take great delight in releasing India’s first numberless credit card, in association with Axis Bank. This outstanding card marks a huge step forward in our mission to provide safe and inclusive financial solutions to India’s aspirational youth. To empower users and set a new standard for the credit card industry, we combine the simplicity of UPI payments with a safe and secure payment infrastructure.”
Who is eligible for the Fibe Axis Bank numberless credit card?
The Fibe Axis Bank numberless credit card is currently only available to Fibe customers. However, Axis Bank has said that it plans to make the card available to a wider range of customers in the future.
How to apply for the Fiber Axis Bank numberless credit card
Customers can apply for the Fiber Axis Bank numberless credit card through the Fibe app. The application process is simple and straightforward, and customers can expect to receive a decision on their application within a few minutes.
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.”
The Fibe Axis Bank numberless credit card is a pioneering product that is set to redefine the future of credit cards in India. The card’s numberless design offers increased security and convenience to customers, and it is sure to be popular with the country’s growing tech-savvy population.
In addition to the benefits mentioned above, the Fiber Axis Bank numberless credit card also offers numerous other features and benefits, including:
Rewards: The card offers a rewards program that allows customers to earn points on every purchase. These points can be redeemed for a variety of rewards, including travel, merchandise, and statement credits.
No annual fee: The Fiber Axis Bank numberless credit card has no annual fee, making it a great option for customers who are looking for a budget-friendly credit card.
UPI integration: The card is integrated with the Unified Payments Interface (UPI), which allows customers to make contactless payments at millions of merchants across India.
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. Fintech was recently titled the Best Startup in Fintech at the G20 Digital Innovation Alliance Mega Summit.