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ICICI Bank launches co-branded credit card with Amazon

October 30, 2018

  • First card in the country to enable Amazon Prime members earn 5% reward points on shopping on
  • The reward points are equivalent to same number of rupees
  • Also, they are uncapped, non-expiring and can be redeemed for millions of products on



Mumbai: ICICI Bank, today announced the launch of a co-branded credit card in an exclusive partnership with ‘Amazon Pay’, the online payment platform of the global e-commerce company Amazon. Christened, ‘Amazon Pay ICICI Bank Credit Card’, the card offers best in the industry rewards points programme for the digitally savvy customers.


This is the first card in the country to enable Amazon Prime members earn 5% reward points on shopping on Other customers get 3% reward points. They also earn 2% reward points on spends at Amazon Pay partner merchants across categories such as food delivery, utility payments, movie ticketing and much more. As the card is available exclusively on Visa, customers also earn rewards at millions of merchant locations throughout India where Visa cards are accepted.


A prominent proposition of the ‘Amazon Pay ICICI Bank Credit Card’ is that each reward point is equivalent to a rupee which customers can redeem on from a catalogue of more than 160 million items available on the website or by paying merchants who accept Amazon Pay. The reward points carry other industry-first benefits too—they are uncapped and do not expire. Besides best in class rewards, customers will also get fuel surcharge waivers, No-cost EMI offers & surprise bonus points during sale events on and Amazon Pay partner merchants.


Commenting on the new launch, Sudipta Roy, General Manager & Head - Unsecured Assets & Cards, ICICI Bank said, “ICICI Bank popularised consumer loans and usage of cards in the country. We are now witnessing two distinct consumer trends. One, millions of Indians are now making purchases for most of their requirements online. Two, customers are looking for richer reward propositions that provide them flexibility in redemption. We are delighted to partner with Amazon Pay to introduce a new and compelling credit card proposition that combines these customer insights. We believe that the ‘Amazon Pay ICICI Bank Credit Card’ is the most rewarding card in the industry for customers as each reward point is equivalent to spendable money that can be redeemed across a catalogue of millions of products on We believe that this compelling and best-in-class customer offering will contribute largely to the growth of the Bank’s credit card portfolio.”


Speaking about the launch, Vikas Bansal, Director, Emerging Payments, Amazon Pay, said “Our mission is to make online shopping more affordable and provide the best value to Amazon Pay customers. Amazon Pay ICICI Bank Credit Card offers our customers compelling rewards on Amazon and everywhere else they shop. We believe this card will provide our customers another reason to choose Amazon Pay, the most trusted, convenient and rewarding way to pay. This festive season, customers can now look forward to more savings through this card.”


“We are delighted to partner with Amazon Pay and ICICI Bank for this co-branded card which is sure to add a new dimension to consumer experience in the Indian digital payments space. With more Indian consumers online than ever before, the new card will help transition consumers away from cash-on-delivery into the fast, secure and convenient world of digital payments,” said Shailesh Paul, Vice President – Merchant Sales & Acquiring, India and South Asia for Visa.


As a start, the card is being offered on invitation to lakhs of ICICI Bank customers who use the app. The select customers will be able to see their invite on the Amazon app. They can apply for the card immediately to get a ready-to-use digital card instantly, in a completely digital and paperless manner. Using the digital card, customers can immediately start shopping online, without having to wait for the physical card to arrive. The physical card is also sent to the customer by the bank within a few days.


Over the coming months, the ‘Amazon Pay ICICI Bank Credit Card’ programme will also be extended to other customers.


Features of the Amazon Pay ICICI Bank credit card include:

  • Get reward points upto 5% on card spends: Customers receive reward points as per category of the spend :
    • 5% for Amazon Prime members and 3% back for all other customers for shopping on
    • 2% for all customers on spends on digital categories on such as, bill payments, recharges, wallet load etc.
    • 2% for all customers on spends on Amazon Pay merchants (e.g., Swiggy, Bookmyshow, Yatra, and many more)
    • 1% for all customers on spends on any merchant location in the country, where Visa cards are accepted. Customers also get fuel-surcharge waiver and no cost EMI offers on a large selection. No earnings on fuel, EMI transactions and gold purchases.


Example: On spending Rs 1,000 on the card, below are the various reward earnings:


Amazon Prime customers spending on Non prime customer spending on For spends on digital categories and with partner merchants of Amazon Pay For spends across any other merchant where VISA cards are accepted in the country
50 points (5% earnings back) 30 points (3% earnings back) 20 points (2% earnings back) 10 points (1% earnings back)


  • One reward point is equivalent to a rupee (1 point = 1 INR)
  • Accumulate reward points without any maximum upper limit - - the more you shop the more you earn
  • Rewards don’t expire and can be redeemed from over 160 million products on and Amazon Pay merchants for purchasing flight tickets, booking hotels, food delivery, and many more
  • Can be used at more than 4 million merchant locations in India – everywhere you shop
  • No joining or annual fee for the card


The reward earnings are credited monthly, after the billing cycle date of the card to the customer’s Amazon Pay balance under the ‘Gift and Credits’ section. Customers can redeem these earnings to purchase from more than 160 million items available on across categories like mobiles, electronics, grocery, appliances, fashion, and bill payments among others. The reward earnings can also be used with Amazon Pay partner merchants for purchasing flight tickets, booking hotels, food delivery, movie tickets and much more.


The launch of the ‘Amazon Pay ICICI Bank Credit Card’ 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 spend 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 enables cards to be stored electronically in the bank’s mobile app allowing customers to make payments at physical stores from their 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.


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About ICICI Bank: ICICI Bank Ltd (NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at US$ 160.5 billion at June 30, 2018. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 17 countries, including India.


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About Amazon Pay Amazon Pay is a convenient and trusted way to pay digitally on and off Amazon. We are committed to the vision of a less-cash India and are working customer backwards to invent ways, which reduce customer friction, improve affordability and foster everyday habits, thereby building preference for digital payments. For more information, visit


About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit


Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.

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