Fibe, formerly known as EarlySalary, has announced that it had partnered with Axis Bank to launch “India’s first-ever numberless credit card” on October 10, 2023. First, there was contactless; now credit card is going numberless. How does a numberless credit card look and work? Read on to find out.
Axis Bank-Fibe numberless credit card launched
For decades, credit and debit cards looked the same — a simple card with the account holder’s name, a 16-digit card number, and the valid form and expiration end dates all usually on the front, and the three-digit card security code at the back. Cards have come up with even more simple designs these days — a neat and clean front and numbers and CVV at the back.
Now, Axis Bank and Fibe come up with a unique product where the credit card has gone numberless. In this new card, there will be no card number, expiry date, or CVV printed on the plastic card. In fact, the plastic card will have only the embedded chip. However, you can go to the Fibe mobile application and access the credit card details. This adds an extra layer of security for customers, claims Fibe.
“This move reduces the risk of identity theft or unauthorised access to customer’s card details ensuring absolute security and privacy,” says the bank. “This numberless Axis Bank card will prioritise the security of our customers,” says Sanjeev Moghe, President & Head, Cards & Payments, at Axis Bank.
Axis Bank-Fibe credit card: Up to 3% cashback, other features
The card offers a cashback of 3% on “online food delivery across all restaurant aggregators, local commute on leading ride-hailing apps, and entertainment on online ticketing platforms.” Further, you will get a cashback of 1% on all online and offline transactions, the bank mentions. The total amount of cashback is restricted at Rs 1500 per month, as per the bank. Moreover, this new credit card is powered by RuPay. So you can link this credit card to any Unified Payments Interface (UPI) applications and use it for various payments.
“Some of the other features of this card include access to four domestic airport lounges per year, fuel surcharge waiver for fuel spends between Rs 400 and Rs 5,000 as well as the added advantage of Axis Dining Delights, Wednesday Delights, End of Season Sales, and RuPay portfolio offerings available across all their cards,” the bank says.
Axis Bank-Fibe credit card: Zero annual fee; where can you get it?
This card will be available to Fibe’s customers on the app, Fibe says. The new Axis Bank-Fibe co-branded credit card has zero joining fee and zero annual fees for a lifetime, the bank says. Is it time to go numberless?
Numberless cards have become a new trend across the world. The card details such as number, CVV, and expiry date are stored behind a secure login on an app, not printed on the card. So, even if you lose the physical card, you are not at risk of losing your details. However, the customer needs to be familiar with mobile applications to control the card. This is mainly targeted at the digital savvy customers.
“We aim to empower our users with a safe and secure payment ecosystem clubbed with the convenience of UPI payments thereby establishing a fresh benchmark in the credit card industry,” says Akshay Mehrotra, Co-Founder and CEO of Fibe.
