Samsung has launched two credit cards in India, joining a crowded category in which more than 50 companies compete for consumers’ attention in the world’s second largest internet market.
The South Korean conglomerate announced a partnership with Mumbai-based Axis Bank and global payments processor Visa to launch the cards, dubbed the Samsung Axis Bank Credit Card. Customers who purchase Samsung products and services using either of the cards will receive a 10% cashback “all year,” according to company executives at an event in New Delhi. (The Signature card has a monthly cap of 2,500 Indian rupees ($31), whereas the Infinite card doubles that limit.) The cashback is capped at 10,000 Indian rupees ($123) per year on the Signature card and 20,000 Indian rupees ($246) on the Infinite card.