Wednesday, October 31, 2018

Amazon Pay, ICICI launch new credit card as US firm eyes fintech expansion

Amazon Pay, the online payments processing service owned by the America-based retailing major, has tied-up with ICICI Bank to launch an Amazon Pay ICICI Bank credit card, in partnership with Visa.It has planned to majorly expand in the financial technology space and in making digital money more prevalent in tier-III cities and other towns. Amazon Pay says their tie-up would help in greater penetration for ICICI, into places where credit card usage is less. This is the first card in the country to enable Amazon Prime members earn five per cent reward points on shopping on Amazon.in. The points would be accumulated in the form ofan Amazon Pay balance, for use to either shop on Amazon or spend on items such as bill payment, food ordering, travel ticketing and hotel booking, among other services."As the card is available on Visa's network, customers also earn rewards at millions of merchant locations throughout India where Visa cards are accepted. Currently, this programme is available ..

from Today's Paper https://ift.tt/2Q6Ox0w

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