Jet Airways-ICICI Bank Contactless Card Taps Biz Users

by CXOtoday News Desk    May 12, 2016


India’s largest private sector bank, ICICI Bank, launched a contactless business credit card in association with Jet Airways, for small and mid-sized enterprises (SMEs) and their employees.

The company claims this is the first of its kind in India said that the ‘Jet Airways ICICI Bank Business Advantage Card’, which is a co-branded credit card helps customers to save on their business expenses. It also provides customers 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.

ICICI Bank also claims to be the first bank globally to offer a dual advantage reward programme on the spends and repayments of the credit card. This card is 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.

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.

Speaking about the launch, Rajiv Sabharwal, Executive Director, ICICI Bank said, “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 all business related spends. Keeping in view the host of benefits on offer, we believe that this card will empower smaller businesses to maximize their business potential and propel them to expand to newer horizons.”

Gaurang Shetty, Whole-time Director, Jet Airways believes that the co-brand card, is thus, an important milestone in partnership with ICICI Bank and highlights the quality of collaboration between the two partners.”

Manish Dureja, Managing Director, Jet Privilege Pvt. Ltd., said, “JetPrivilege has always been the leader in presenting industry first initiatives across various segments of frequent fliers. With Small and Medium Enterprises no longer confined to geographical boundaries, JetPrivilege aims to serve this diversified and growing community, with a powerful proposition supporting their growing business needs.

With Business Rewards+ we facilitate SMEs to maximize 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.”

T. R Ramachandran, Group Country Manager, India & South Asia, Visa, said, “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 sophisticated 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.”

Companies can subscribe to the card by paying a joining fee of Rs. 2,500 per card and get a host of benefits, said the release.