Fibe, (formerly known as EarlySalary), and Axis Bank partnered to launch India's first-ever numberless credit card for tech-savvy Gen Zs. With a numberless credit card, customers get an added level of security as there is no card number, expiry date, or CVV printed on the card plastic. This reduces the risk of identity theft or unauthorised access to the customer's card details, ensuring absolute security and privacy. Customers can easily access their Fibe Axis Bank Credit Card details on the Fibe app, giving them complete control over their information.
The power-packed co-branded credit card offers industry-best features, like a cashback of a flat 3 per cent on online food delivery across all restaurant aggregators, local commute on leading ride-hailing apps, and entertainment on online ticketing platforms. In addition, customers also get a 1 per cent cashback on all online and offline transactions.
The card is powered by RuPay, which allows the customer to link this credit card to UPI. The card is accepted across all offline stores in addition to all digital platforms. It also offers the tap-and-pay feature for added convenience. Furthermore, this card has zero joining fees and zero annual fees for a lifetime. This card will be available to Fibe's existing 2.1 million+ customers.
On this partnership with Axis Bank, Akshay Mehrotra, co-founder and CEO, Fibe said, "We take great pleasure in introducing India's first numberless credit card, in association with Axis Bank. This exceptional card represents a significant stride in our commitment to offering secure and inclusive financial solutions to the ambitious youth of India. We aim to empower our users with a safe and secure payment ecosystem clubbed with the convenience of UPI payments, thereby establishing a fresh benchmark in the credit card industry."
Speaking on this announcement, Sanjeev Moghe, president and head of cards and Payments, at Axis Bank, said, "Axis Bank is a full suite card and payments player, and we continue to build on innovation-led partnership models. We are committed to driving access to formal credit in India with various offerings that benefit our customers. We are delighted to partner with Fibe in this ground-breaking market revolution, with an opportunity to serve an expanding customer base. This numberless Axis Bank card will prioritise the security of our customers while offering a robust financial solution that empowers the smart and ambitious youth of our nation. Our overarching banking strategy of being connected aims to foster inclusivity and enhance accessibility for the diverse and growing consumer segment."
Already a leader in the personal loan for salaried professionals segment, Fibe now ventures into the expansive credit card market. It raised $110 million in its Series D funding last year and is now widening its geographic reach and diversifying its offering. The fintech was recently titled the Best Startup in Fintech at the G20 Digital Innovation Alliance Mega Summit.
