Looking at Samsung’s portfolio of devices in India, one doesn’t have to look at other brands to fill in gaps. Sure, they have some of the best phones in the world — look at the foldables — TVs that are technologically miles ahead, washing machines and refrigerators. Then there are the recent additions to the set-up — laptops, portable projector and Bespoke refrigerator. As we move from one device to another, like a phone to another phone, it is human nature to get a device that has more options, is more premium. And that is where Samsung’s latest offering comes in.
The company has partnered with Axis Bank to launch an exclusive co-branded credit card, powered by Visa. The biggest feature? With the Samsung Axis Bank credit card, consumers will get 10 per cent cashback across all Samsung products and services around the year. It will be given over and above existing Samsung offers, on both EMI and non-EMI transactions.
We spoke to Raju Pullan, senior vice-president at MX business, Samsung India, to find out more.
Raju Pullan, senior vice-president at MX business, Samsung India
The idea behind launching a credit card....
If you look at some of the platforms that we have created, there is one big reason why we have been able to stay ahead of the curve — it’s innovation with products like our foldables or the S22 series, the A series or the Watch 5 Pro, or the Galaxy Buds2 Pro. Many of these products are aspirational. So we have created platforms that have been successfully implemented and consumers are using it — whether it is the upgrade programmes or Samsung Finance+, which we launched in 2019. Last year we were averaging around Rs 350 crores per month and this year we are averaging around Rs 700 crores per month of transactions. Consumers are leveraging Samsung Finance+ by upgrading themselves. Recently I was in a town near Jaipur. There I met a consumer who had come to buy a smartphone and with Samsung Finance+, the consumer upgraded himself to a Z Flip phone. It goes to show that platforms like Finance+ helps to upgrade one’s lifestyle.
The main feature....
We are at a juncture to take a step further to improve consumer experience. The Samsung Axis Band credit card comes at the perfect time; during the festive season. We are launching just before Durga Puja. There are some unmatched offerings, like 10 per cent cashback across all Samsung products, whether it’s smartphones, tablets, laptops, televisions, refrigerators, washing machines or air conditioner. Even if at any of our consumer centres, if a customer has to pay for any service or has to buy a Samsung Care+ mobile protection or extended warranty, the consumer can avail the cashback.
This is not a time-bound promotion that we are running. The cashback is for around the year. During festival time, we will have promotions with various banks and this cashback will be over and above any other promotions that we are running. If we are running a five per cent or a 10 per cent cashback, the Axis Bank credit card cashback will be over and above the promotions that we are running.
The intent....
The card will be a differentiator for consumers because no other consumer electronic brand has got something like this in India. Premium consumers use their credit cards while acquiring premium products. That’s one opportunity that we seek as we keep innovating in the premium space.
Details about the credit card
(Left to right) Amitabh Chaudhry (MD and CEO of Axis Bank), Ken Kang (president and CEO of Samsung South-West Asia) and Sandeep Ghosh (group country manager, India and South Asia, Visa)
• The annual fee for the Signature variant is Rs 500 (plus taxes) and for the Infinite variant is Rs 5,000 (plus taxes).
• Both variants come with a welcome benefit of Edge Reward points, which the cardholders will earn on completing the first three transactions on their card.
• Customers can apply for the card through Samsung Axis Bank Credit Card website, Samsung’s ecosystem of apps and Axis Bank channels.
