Samsung launches its own credit card service in India 

Samsung India announced a credit card in partnership with Axis Bank. The company is offering 10% cashback on purchases, as well as other perks like reward points towards the financial institution, airport lounge access and a 1% fuel surcharge waiver.

The service is split into two tiers - Signature and Infinite. The first has a monthly cashback limit of INR2,500 or INR10,000 yearly, while the latter is set at INR5,000 and INR20,000. The deal is for all Samsung products - smartphones and smart wearables, laptops, TV sets, fridges, washing machines, microwaves and other appliances.

There is no minimum transaction amount and no limit on Samsung purchases. Cashback credit will take up to 60 days to appear in the user's profile and will only work on selected channels.

Axis Bank CEO revealed the new product is aiming to extend beyond the Top 10 cities and reach penetration in tier 2 & 3 cities. One Visa executive revealed that 3 out of 4 Indians buy at least one electronic appliance and spend around INR40,000 annually.

Applications for the Samsung Axis Credit Card will open soon on the dedicated page on Samsung India's website.

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