Jet Airways, in association with ICICI Bank, has announced the launch of the country’s first contactless business credit card for small and mid-sized enterprises (SMEs) and their employees. Christened ‘Jet Airways ICICI Bank Business Advantage Card’, card enables customers to save on their business expenses, while providing opportunities to earn JPMiles on both spends as well as repayments on a list of business expense categories including travel, dining, office stationary, online advertising and vendor payments among others. The reward is in the form of JPMiles, that is allocated to both the SME and the cardholders as per the Miles Split Ratio Module (MSRM) chosen by the SME. The JPMiles can be split between cardholders and the company in the ratios of 75:25, 50:50 and 25:75. The JPMiles earned by the company are transferred to its ‘Business Rewards+’ account of Jet Airways. The points of cardholders are transferred to their individual JetPrivilege accounts.
The card is powered by the ‘VISA payWave’ contactless technology that enables the cardholder to make payments by 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.
Additionally, the card offers a complimentary access to a unique expense management tool, ‘Visa IntelliLink for Small Businesses’ (VISB) giving entrepreneurs a new level of insight and control over their spends. Companies can subscribe to the card by paying a joining fee of ₹ 2,500 per card.
Speaking about the launch, Rajiv Sabharwal, executive director, ICICI Bank, said, “We are delighted to partner with Jet Airways and Visa to introduce the country’s first contactless business credit card. This collaboration further underscores our commitment to provide SMEs with solutions that will help them to scale up swiftly. The co-branded card is yet another compelling proposition that offers upfront savings on business spends, along with a first of its kind benefit of offering rewards on both spends and repayments on a large list of business expense categories. Additionally, the card also gives a complimentary access to Visa’s expense management tool allowing entrepreneurs to keep track of business related spends. Keeping in view the host of benefits on offer, we believe that this card will empower smaller businesses to maximise their business potential and propel them to expand to newer horizons.”
Gaurang Shetty, whole-time director, Jet Airways, said, “The new Jet Airways-ICICI Bank Business Advantage Card is a product that appeals to the needs of the SME segment. This co-brand business card will provide superior guest experience thus enabling us to deepen our relationship with our existing guests.”
Manish Dureja, managing director, Jet Privilege, stated, “With SMEs no longer confined to geographical boundaries, JetPrivilege aims to serve this diversified and growing community with a supporting their growing business needs. With Business Rewards+, we facilitate SMEs to maximise their business potential by rewarding companies with JPMiles for all their business travel and entertainment expenses. We are confident that this programme offering will appeal to both businesses as well as their employees.”
TR Ramachandran, group country manager, India and South Asia, Visa, added, “We are proud to partner with ICICI Bank to launch the first Visa co-branded business card in the country. This card is the first business card powered by VISB, a new information and expense management tool, giving businesses a new level of insight and control over their spending. Also, this is the first business credit card with contactless payWave technology, enabling the cardholder to make fast and convenient payments.”
