Axis Bank, Indian Oil roll out co-branded RuPay contactless credit card



Axis Bank, Indian Oil roll out co-branded RuPay contactless credit card
Axis Bank and Indian Oil Corp.Ltd.  (IOCL) in partnership with National Payments Corp. of India (NPCI), have announced the launch of a co-branded contactless INDIAN OIL AXIS BANK RuPay Credit Card. Apart from surcharge waiver at fuel outlets and cashback on fuel spends, the credit card comes with a host of other benefits on everyday transactions through accelerated reward points, instant discount on movie tickets, and dining delights at partner restaurants.
V Satish Kumar, director (marketing), Indian Oil, said, “The on-the-go feature will help us unlock the digital potential among low-value transactions in the 2&3 wheelers segment. We are sure that we will be able to penetrate deeper into the new growth centers – outside of metros, in the Tier 2/3 cities, and beyond."
As an onboarding gift, users of this card will be entitled to 100% cashback up to Rs 250 on all fuel spends within the first 30 days of issue of card. It will also provide a surcharge waiver of 1% on fuel spends between Rs 200 and Rs 5000 and reward points worth 4% for every Rs 100 spent on fuel at Indian Oil outlets. 
Users will also get a 10% instant discount on movie tickets booked via BookMyShow website or app, 20% discount at partner restaurants, reward points worth 1% for every Rs 100 spent on online shopping, groceries, utility payments, and 1 reward point for every ₹100 spent on all other expenses. There is an additional feature of an annual fee waiver if a cardholder spends over Rs 50,000 in a year. The card also offers customers loyalty points in the form of 1 EDGE REWARD point on every Rs 100 spent with the card, as per a press statement.
Sanjeev Moghe, president & head, Cards and Payments, Axis Bank, said, “INDIAN OIL AXIS BANK Credit Card, one of our best offerings has been introduced on the network. One of the most rewarding credit cards in its segment, the co-branded card will offer exclusive benefits and rewards that will appeal to customers across India."