Bharti Airtel and Axis Bank, India’s third-largest private sector bank have announced a strategic partnership to strengthen the growth of India’s digital ecosystem through a range of financial solutions.
In order to accelerate the adoption of digital payments in India, over the coming months, Airtel and Axis Bank will bring to market a range of innovative financial offerings and digital services exclusively for Airtel’s 340 million plus customers. These will include co-branded credit cards with industry leading benefits, pre-approved instant loans, Buy Now Pay Later offerings and many more.
The alliance, with its significant reach across the country will help penetrate tier 2 and tier 3 markets by enabling higher adoption of digitised payments, the company said.
The partnership was kicked-off today with the launch of the first-of-its-kind ‘Airtel Axis Bank Credit Card’ that will offer a host of attractive benefits such as cashbacks, special discounts, digital vouchers and complimentary services to Airtel customers. Airtel Axis Bank Credit Card users will get the benefits of various rewards on their card spends
This credit card will be exclusively available for eligible Airtel customers through a seamless digital journey on 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.
“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,” said Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel.
“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 maximise value, while also aiding the digital economy exponentially,” said , Amitabh Chaudhry, MD&CEO, Axis Bank.
In the previous month Bharti Airtel had announced that it has joined the SEA-ME-WE-6 undersea cable consortium to scale up its high-speed global network capacity to serve India’s fast-growing digital economy.
The 19,200 Rkm SEA-ME-WE-6 will connect Singapore and France, and will be amongst the largest undersea cable systems globally. Airtel is participating as a major investor in the SEA-ME-WE-6 and is anchoring 20 per cent of the overall investment in the cable system, which will go LIVE in 2025. The 12 other consortium members of SEA-ME-WE-6 include Bangladesh Submarine Cable Company, Dhiraagu (Maldives), Djibouti Telecom, Mobily (Saudi Arabia), Orange (France), Singtel (Singapore), Sri Lanka Telecom, Telecom Egypt, Telekom Malaysia, Telin (Indonesia).