In an effort to enhance security and privacy while reducing the risk of identity theft and unauthorized access, Axis Bank, a private lender, and fintech firm Fibe have introduced India’s inaugural credit card without traditional card details.
This innovative card, known as the Fibe Axis Bank Credit Card, refrains from displaying card numbers, expiry dates, or CVV numbers, making these particulars accessible exclusively through the Fibe app.
This groundbreaking card, which operates on the RuPay network, enables customers to link their credit card to the United Payments Interface (UPI) and offers a convenient tap-and-pay feature usable at retail establishments nationwide.
According to Sanjeev Moghe, President and Head of Cards and Payments at Axis Bank, “This numberless Axis Bank card places a premium on customer security, providing a robust financial solution tailored to the intelligent and ambitious youth of our nation.
“The company emphasizes that this approach significantly mitigates the risk of identity theft and unauthorized access, ensuring a high level of security and privacy for customers. The Fibe Axis Bank Credit Card boasts a flat 3% cashback on online food delivery, local ride-hailing apps, and entertainment on online ticketing platforms, along with a 1% cashback on all online and offline transactions.
Additionally, the card offers customers access to four domestic airport lounges each quarter and a fuel surcharge waiver for fuel expenditures between Rs 400 and Rs 5,000. Akshay Mehrotra, co-founder and CEO of Fibe, expressed the significance of this card, stating, “This extraordinary card marks a substantial step in our commitment to delivering secure and inclusive financial solutions to India’s enterprising youth.
Our goal is to empower users with a safe and secure payment ecosystem, coupled with the convenience of UPI payments, setting a new standard in the credit card industry.”
