Amazon Pay ICICI Bank credit card crosses 1 million milestone

By Edil Corneille

Today, Amazon Pay and ICICI Bank announced the issuance of about 1.4 million Amazon Pay ICICI Bank credit cards in India. The credit card has crossed the milestone of 1 million in less than 20 months of its launch. Amazon Pay and ICICI Bank introduced the co-branded credit card powered by Visa, two years ago.

The credit card offers a contactless payment feature to help customers pay in a safe manner which holds significance amidst the COVID-19 outbreak.

Sudipta Roy, Head – Unsecured Assets, ICICI Bank said, “…The success is a testimony to the best-in-industry rewards that the card offers. The Bank enabled video KYC facility across the country in June 2020, thereby allowing new-to-bank customers to apply for the credit card seamlessly from anywhere in the country. We believe that with this facility, more customers will be able to apply for the card in a contactless and safe way.”

Registered Amazon customers can apply for the credit card even if they are not customers of ICICI Bank. Amazon Pay ICICI Bank credit card introduced the ‘Video KYC’ facility for new applications in June 2020, in order to enhance customer convenience during the ongoing pandemic.

“…To make digital payments more convenient and seamless we have introduced instant issuance of cards in under 60 seconds and 100% digital video KYC enabled issuance, we are bringing our vision alive for our customers. It is the trust that customers have in us that encourages us to further innovate on behalf of them,” said Vikas Bansal, Director and Head Financial Services, Amazon Pay

Customers can apply for the Amazon Pay ICICI Bank credit card on the Amazon India app or website. They get a digital card in a 100 percent contactless and paperless manner. The physical card is also sent to the customer by the bank within a few days.

“Ecommerce is estimated to touch 300-350 million Indian shoppers by 2025. The Amazon Pay ICICI Bank credit card powered by Visa offers convenient and secure payments to this customer segment. We are delighted to note that this has become the fastest growing co-branded card product in India, surpassing 1 million cards,” said Shailesh Paul, Head of Merchant Sales & Acquiring and CyberSource, India and South Asia, Visa.