Bharti Airtel, Axis Bank partner for innovative financial offerings

The telecom major and the private bank have launched first-of-its-kind Airtel Axis Bank Credit Card with exclusive benefits.

Bharti Airtel and Axis Bank announced a strategic partnership to launch a range of innovative financial offerings and digital services exclusively for Airtel's 340 million plus customers. These will include co-branded credit card with benefits, pre-approved instant loans, Buy Now Pay Later offerings and many more.

The alliance will help penetrate tier 2 and tier 3 markets by enabling higher adoption of digitized payments.

The partnership has launched the first-of-its-kind 'Airtel Axis Bank Credit Card' that will offer benefits such as cashbacks, special discounts, digital vouchers and complimentary services to Airtel customers. This credit card will be exclusively available for eligible Airtel customers through the Airtel Thanks app.

Additionally, Axis Bank will leverage Airtel's suite of digital services such as its C-PaaS platform - Airtel IQ which spans voice, messaging, video, streaming, call masking and virtual contact center solutions, to enhance digital capabilities. Axis Bank will also use various cyber security services from Airtel. Going forward, the companies will further explore collaborating across Cloud and Data Center services.

Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel said: "Airtel is building a formidable financial services portfolio as part of its endeavor to offer world-class digital services to its customers. We are delighted to join forces with Axis Bank in this exciting journey. Through this win-win telco-bank partnership, Airtel customers will get access to Axis Bank's world-class financial services portfolio and exclusive benefits, while Axis Bank will benefit from Airtel's strong digital capabilities and deep distribution reach."

Commenting on this partnership, Amitabh Chaudhry, MD & CEO, Axis Bank said, "At Axis Bank, we are constantly striving to enhance value for our stakeholders. This one of its kind collaboration will help widen the access to credit and various digital financial offerings from Axis Bank for Airtel's 340 million customers. On the other hand, we will leverage Airtel's widespread reach and services ranging from mobility and DTH to utility bill payments offering our customers the opportunity to maximize value, while also aiding the digital economy exponentially."

Bharti Airtel is a global communications solutions provider with over 480 million customers in 16 countries across South Asia and Africa.

Axis Bank is the third largest private sector bank in India. It offers the entire spectrum of services to customer segments covering large and mid-corporates, sme, agriculture and retail businesses.

Shares of Bharti Airtel were up 3.55% at Rs 676.15. Shares of Axis Bank were down 5.80% at Rs 673.70.

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