Fibe and Axis Bank Unveil India's First Numberless Credit Card

MUMBAI, India, October 10, 2023 -- Fibe, formerly known as EarlySalary, India's leading Fintech company, has joined hands with Axis Bank, one of India's prominent private sector banks, to introduce India's inaugural numberless credit card, tailored for the tech-savvy Generation Z.

The numberless credit card, a pioneering concept in India, enhances security by eliminating traditional card details such as the card number, expiry date, and CVV from the physical card. This innovative approach significantly minimizes the risk of identity theft and unauthorized access to a customer's sensitive financial data. Instead, customers can seamlessly manage their Fibe Axis Bank Credit Card details via the Fibe app, granting them full control over their card information.

This co-branded credit card offers an array of industry-leading features, including an impressive 3% cashback on online food delivery from all restaurant aggregators, local rideshare apps, and entertainment purchases on online ticketing platforms. Furthermore, customers will enjoy a 1% cashback on both online and offline transactions, making it a highly rewarding choice.

This groundbreaking card operates on the RuPay network, permitting customers to link it with the Unified Payments Interface (UPI). It is widely accepted at brick-and-mortar stores and across various digital platforms, boasting a convenient tap-and-pay feature. Moreover, the card comes with no joining fees or annual fees for its entire lifetime, ensuring cost-effectiveness for users. Initially, the card will be available to Fibe's existing customer base, which comprises over 2.1 million users.

In addition to these advantages, cardholders will gain access to four domestic airport lounges annually, a fuel surcharge waiver for fuel purchases ranging from Rs. 400 to Rs. 5,000, and exclusive perks such as Axis Dining Delights, Wednesday Delights, End-of-Season Sales, and RuPay portfolio offerings available across all their cards.

Akshay Mehrotra, Co-Founder and CEO of Fibe, expressed his delight regarding the partnership with Axis Bank, highlighting that "this exceptional card signifies a significant step in our commitment to providing secure and inclusive financial solutions to India's ambitious youth."

Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, emphasized the bank's dedication to innovation-driven partnership models and its mission to expand access to formal credit in India.

Fibe, renowned for its leadership in the personal loan segment for salaried professionals, is now extending its presence into the expansive credit card market. The company secured $110 million in Series D funding last year, indicating its firm commitment to broadening its geographic footprint and diversifying its product offerings. Fibe's recent recognition as the Best Startup in Fintech at the G20 Digital Innovation Alliance Mega Summit solidifies its position as a fintech leader in India.

Source: PRNewswire