MUMBAI:
ICICI Bank, today 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 make payments to 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 MakeMyTrip’s membership programmes of ‘MMTBLACK’ & ‘MMTDOUBLEBLACK’.
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 and provide 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 Chief Executive Officer, 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.”
To pre-book any of the two variants of the MakeMyTrip ICICI Bank, SMS ‘MMTCard’ to 5676766 and our customer care executive will contact the customer. Shortly, interested customers will be able to book these cards through the Bank’s website branches as well as on MakeMyTrip’s website and mobile application. ICICI Bank pre-qualified customers will have the advantage of being able to generate cards instantly and transact seamlessly.
Exclusive benefits with the range of MakeMyTrip ICICI Bank cards include :
1. High reward points : Earn upto ‘4’ ‘My Cash’ points by spending Rs. 200 on the card. Each reward point on ‘My Cash’ is worth Re. 1.
2. Accumulate unlimited reward points : There are no maximum limits on the reward points that one can accumulate as ‘My Cash’. The reward points have a validity of upto one year from the date of issuance.
3. One time joining Fee and Benefits :
a. MakeMyTrip ICICI Bank Platinum Credit Card : Joining fee of Rs 500. Customers will get joining benefit of Rs 2500/- with 500 ‘My Cash’ points and a voucher from a popular hotel chain worth Rs 2000/-
b. MakeMyTrip ICICI Bank Signature Credit Card : Joining fee of Rs 2500. Customers will get joining benefit of over Rs 5500/- with 1500 ‘My Cash’ points and a voucher from a popular hotel chain worth Rs 2500/- and free enrolment into ‘MMTDOUBLEBLACK’ membership programme worth Rs 1499/-
4. Zero annual fee : Customers do not have to pay any annual fee every year
5. Redeem reward points on MakeMyTrip and partner merchants : Customers can redeem ‘My Cash’ for their travel requirements on the travel portal. Additionally, they can also use it to redeem partner merchant benefits including hotels, taxi aggregators and e-commerce shopping sites among others.
6. Bonus rewards on milestone spends : Customers will get bonus reward points as ‘My Cash’ from the Bank on specified spends on the card. On spends between INR 50,000 and INR 5 Lakh, customers will get ‘My Cash’ ranging from 1000 to 4000 respectively.
7. Lifestyle benefits : Complimentary access to participating airport and railway lounges, Buy 1 Get 1 movie ticket offer upto specified amounts a month on a leading online movie ticketing platform and host of other benefits from Airtel, Ola among many others
To know more about the credit cards, visit icicibank.com…./ link
The launch of MakeMyTrip ICICI Bank cards comes close on the heels of an array of new initiatives undertaken by the Bank to bring forth card propositions for new customer segments as well as world-class exclusive spends campaigns. It includes range of cards in association with iconic brands like Manchester United and Ferrari among others. The Bank is also the first to introduce in the country pioneering innovations including contactless cards, leveraging upon the Host Card Emulation (HCE) technology that enabled cards to be stored electrionically in the bank’s mobile app enabling customers to make payments in physical stores from the mobile phones. It also is the first to launch availability of instant credit card online for its pre-approved customers, which can be used to transact online immediately.
