Fibe, previously known as EarlySalary, a leading Fintech company in India, has partnered with Axis Bank, one of the largest private sector banks in India, to launch the country's first-ever numberless credit card.
Significance of Numberless Credit Card
- This innovative Axis Bank credit card prioritizes customer security while providing a robust financial solution that empowers the smart and ambitious youth of India.
- The card is a significant step towards providing secure and inclusive financial solutions to the country's ambitious youth.
- The numberless credit card is the first of its kind in India.
Features of Numberless Credit Card
- It offers an added level of security as it does not have a card number, expiry date, or CVV printed on the card plastic.
The CVV Number ("Card Verification Value") on credit card or debit card is a 3 digit number.
- This feature reduces the risk of identity theft or unauthorized access to the customer's card details, ensuring complete security and privacy.
- The card is powered by RuPay, which allows customers to link it to UPI. It is accepted at all offline stores and digital platforms, offering the tap-and-pay feature for added convenience. The card has zero joining fees and zero annual fees for a lifetime.
RuPay is a domestic payment network in India that is widely accepted at ATMs, POS devices, and e-commerce websites across the country. It is a highly secure network that protects against anti-phishing scams. The name, which is derived from the words 'Rupee' and 'Payment', highlights that it is an initiative for card payments that is unique to India. It is our response to international payment networks, and it expresses our pride in our nation.
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.
- The co-branded credit card provides a cashback of a flat 3% on online food delivery across all restaurant aggregators, local commute on leading ride-hailing apps, and entertainment on online ticketing platforms.
- Additionally, customers also earn a 1% cashback on all online and offline transactions.
NOTE: Amitabh Chaudhry is the Managing Director & Chief Executive Officer of Axis Bank.