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Amazon Pay ICICI Bank Credit Card Launched, Offers 5 Percent Reward Points to Prime Members

Amazon Pay ICICI Bank Credit Card Launched, Offers 5 Percent Reward Points to Prime Members

By Tasneem Akolawala | Updated: 30 October 2018 18:01 IST

Amazon Pay ICICI Bank credit card has been made available to select customers for now

Highlights

Amazon has partnered with ICICI Bank to offer credit cards to its custome
This credit card offers 5 percent reward points to Prime customers on sho
These reward points are credited monthly as Amazon Pay balance

In a first-of-its-kind move in India, Amazon has partnered with ICICI Bank to provide its Prime customers a credit card that leverages shopping expenses into reward points. This card earns Amazon Prime customers 5 percent reward points on shopping, wherein one reward point is equivalent to a rupee, and these reward points come with no expiry date. These reward points convert into Amazon Pay balance, and can be redeemed for purchasing products on Amazon.in and partner merchants. The Amazon Pay ICICI Bank credit card has been launched in partnership with Visa, and these reward points don't have a maximum upper limit as well.

Amazon notes that this credit card will give Prime members the option to earn 5 percent reward points on shopping from Amazon India. Non-Prime members can also avail this credit card, but they will only get 3 percent reward points. Apart from Amazon India, these credit card holders will also get a chance to earn 2 percent reward points on spends at Amazon Pay partner merchants across categories such as food delivery, utility payments, movie ticketing and more. This includes BookMyShow, Yatra, Swiggy, and more. Furthermore, customers can also earn 1 percent reward points at merchant locations throughout India where Visa cards are accepted.

For example, if users spend Rs. 1,000 on the credit card, if they are Prime members and spend it on Amazon India, they will earn 50 reward points (5 percent). If they are non-Prime members, they will earn 30 points (3 percent). If users spend on digital categories and with partner merchants of Amazon Pay, they will earn 20 points (2 percent), and if they spend across any other merchant where Visa cards are accepted in the country, they will earn 10 points (1 percent).

Unfortunately, this new credit card program is available to select Amazon and ICICI Bank customers only. These customers will receive an invite on the Amazon app, from where they can immediately apply for the card. Amazon will disburse a digital card immediately, which the users can use until the physical card arrives. As mentioned, each reward point is equivalent to a rupee, and the rewards earnings are credited monthly to the customer's Amazon Pay balance under 'Gift and Credits' section. Apart from using this earning on Amazon India, users can also avail the Amazon Pay balance for purchasing of flight tickets, booking hotels, food delivery, movie tickets, and paying utility bills.

As mentioned, there is no expiry date associated with these reward points, and they do not have any upper limit as well. Furthermore, Amazon notes that these Amazon Pay ICICI Bank credit card holders will also get fuel surcharge waivers, No Cost EMI offers and surprise bonus points during sale events on Amazon and Amazon Pay partner merchants.

Vikas Bansal, Director, Emerging Payments, Amazon Pay said, "Our mission is to make online shopping more affordable and provide the best value to Amazon Pay customers. Amazon Pay ICICI Bank Credit Card offers our customers compelling rewards on Amazon and everywhere else they shop. We believe this card will provide our customers another reason to choose Amazon Pay, the most trusted, convenient and rewarding way to Pay. This festive season, customers can now look forward to more savings through this card."

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