Amazon Pay ICICI Bank credit card crosses 1 million milestone

Amazon has issued about 1.4 million cards since launch in 2018.

Amazon says Amazon Pay ICICI Bank credit card is fastest to cross 1 million milestone (REUTERS)

Amazon Pay and ICICI Bank on Wednesday announced that the bank has issued about 1.4 million Amazon Pay ICICI Bank credit cards. The credit card has crossed the 1 million milestone in less than 20 months of its launch. 

In case you did not know, the co-branded credit card is powered by Visa. It gives benefits such as always-on reward points. It also allows direct crediting of reward points towards Amazon Pay balance.

Amazon in its release said that the initiative has helped customers apply for credit cards even if they are not customers of ICICI Bank. The company also pointed out that Amazon Pay ICICI Bank credit card was among the first credit cards in India to introduce ‘Video KYC' facility for new applications in June 2020.

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% contactless and paperless manner. The physical card is also sent to the customer by the bank within a few days.

“To make digital payments more convenient and seamless we have introduced instant issuance of cards in under 60 seconds, 100% digital video KYC enabled issuance, issuance of reward points directly into Amazon Pay balance, contactless feature embedded in all cards. It is the trust that customers have in us that encourages us to further innovate on behalf of them”, said, Vikas Bansal, Director – Emerging Payments, Amazon Pay India.

“E-commerce 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.