ICICI Bank ties-up with MakeMyTrip to launch a range of co-branded credit cards
ICICI Bank, has announced its partnership with MakeMyTrip, the country’s leading online travel company, to launch a range of co-branded credit cards tailor-made to suit the aspirations of the rapidly expanding segment of travel enthusiasts in the country. As part of the agreement, ICICI Bank will offer two types of credit card – MakeMyTrip ICICI Bank Platinum Credit Card and MakeMyTrip ICICI Bank Signature Credit Card.
The cards provide customers attractive lifestyle privileges as well as the opportunity to convert their daily spends on the card to MakeMyTrip ‘MyCash’, the reward currency of the travel portal. Each reward point earned as ‘My Cash’ has a value of Re 1. It can be redeemed across an array of categories on the travel portal such as air-travel, hotel booking, holiday packages. Additionally, customers can also use it to redeem for vouchers of partner merchants of MakeMyTrip for categories including cab aggregators, online movie ticketing platforms, e-commerce portals among many others. Further, customers also get the advantage of joining benefits, additional bonus reward points from the Bank on specified spends on the card, complimentary access to domestic airport & railway lounges and ‘MMTBLACK’ and ‘MMTDOUBLEBLACK’ – loyalty programmes of MakeMyTrip.
These cards are powered by the ‘VISA payWave’ contactless technology that enables the cardholder to make payments by simply tapping the card at contactless enabled terminals in more than 48 countries including India. The card can also be used by dipping or swiping at non-contactless merchants.
Commenting on the new addition to the credit card portfolio, Anup Bagchi, executive director, ICICI Bank said, “We are delighted to partner with MakeMyTrip to introduce a compelling co-branded proposition for the expanding segment of Indian consumers who are travel enthusiasts. Our research indicated that customers are looking at newer card reward propositions which provide them the flexibility to accumulate reward points and redeem them for travel and entertainment related spends. In line with this customer requirement, the new co-branded card offers customers unmatched benefits on travel related spends. We believe that this card will be yet another imperative addition to our existing range of credit and debit cards.”
Rajesh Magow, co – founder and CEO, MakeMyTrip, said, “We are pleased to partner with ICICI Bank and look forward to affiliating with a brand as committed as we are to building customer relationships and enhancing customer loyalty. This partnership will deliver most meaningful and distinctive value proposition to our customers making it the most rewarding way to travel.”