Axis Bank today launched India’s first ‘Visa Platinum Credit Card’ based on the EMV (Europay, MasterCard, Visa) Standard. The Card has an embedded chip, which stores cardholder’s information in an encrypted format, thereby providing the highest level of security to the cardholder against possible misuse in form of counterfeiting and skimming.

Speaking on the occasion, Dr. P. J. Nayak, Chairman & CEO, Axis Bank said, “We believe in offering our customers best-in-class products and services. The launch of the Platinum Credit Card in association with VISA is a proof of our commitment to innovation. The card, which is based on the EMV Standard, is the first of its kind in India. The EMV chip brings the benefit of the highest level of security to the card holder against all possible forms of misuse. At Axis Bank we have strongly believed in launching technology enabled, new generation products and our current offering is a prime example of this.”

In addition to the security provided by EMV certified chip, the Platinum Card also offers attractive benefits to the cardholders:

EMV Functionality

• Definition:
• EMV Certified Chip cards are next generation technology payment cards carrying an embedded microchip. Compared to existing magnetic stripe cards, the computing power of the chip means that cards can offer new payment options and services, greater security, and more convenience and choice. 
• Chip card protects against ‘skimming’ or copying of the contents, whereas magnetic stripe cards are more vulnerable.   When you use your card at the point of sale, the chip card sends a secret message to authenticate every transaction.  This secret message changes for every transaction, making it harder for a fraudster to steal the information.
• Functionality:
• EMV based chip card also ensures secure exchange of information between the Card and Bank’s Authorization system (because of presence of cryptogram in the online requests/responses).
• Higher data storage enables card to perform multiple functions e.g. Efficient Rewards Management by offering chip based loyalty solutions, instant reward redemption, multiple programs on single card.
•  Axis Bank Platinum - Exclusive Benefits
• Sign up Gifts:
• Premium Wrist Watch: Platinum credit cardholders will be entitled to a premium watch from Esprit. The cardholder can choose between two variants.

·         Complimentary flight vouchers: Platinum credit cardholders will also be entitled to a complimentary return flight voucher to one of the four most traveled destinations in Asia namely- Dubai, Bangkok, Kuala Lumpur & Singapore. The return flight voucher will be given to Primary as well as Add-on credit cardholders.

·         Fuel benefit: Platinum credit cardholders will also enjoy a 5% saving on Fuel expenses in the form of a 2.5% surcharge waiver and 2.5% cash back. The benefit will be applicable across all fuel pumps in India.

·         Accelerated rewards program: The Platinum Credit Card has a superior rewards program catering to high spenders and international travelers. Cardholder can earn upto 2 reward points on every Rs. 100 spent. Each Reward Point will be worth Re. 1 and accumulated rewards points can be redeemed against exciting gifts and vouchers given in exclusive Platinum rewards catalogue.

·         Concierge Service, any time: Platinum credit cardholders will be empowered to enjoy round the clock concierge services. From delivery of flowers to seeking golf course referrals, personal help is just a call away.

·         Comprehensive insurance package: Platinum credit cardholders will get an Insurance cover of Rs. 51 lacs. The insurance cover includes air accident insurance, personal accident policy, zero lost card liability, purchase protection and travel related insurance.

·         Access to over 500 airport lounges: Platinum credit cardholders will get a Complimentary Priority Pass Membership which will enable them to gain access to over 500 airport lounges across 275 cities across the World.

·         Stay Connected the smarter way: By way of exclusive offers from Matrix Cellular, Axis Bank Platinum credit cardholders can stay connected in a much easier and economical way.

·         Wheels at your service: Platinum credit cardholders can also enjoy a 35% discount on chauffeur driven cars in India thru Hertz.

·         Shopping offers: Platinum credit cardholders can avail of great shopping benefits on their purchases at some of the leading partners such as Kaya Skin Clinic, VLCC, Hidesign, Saville Row, Trussadi, Pizza Hut, TravelGuru, and PVR Cinemas etc.

The Bank started its credit cards business in August’ 2006 and within a short span of time issued over 5 lac credit cards. The Bank is one of the leading Cards player in the country. Axis Bank currently has a debit Card base of 8 million, the third largest in the country; it is the leading player in pre-paid cards and has the second largest installed base of over 70,000 Electronic Data Capture (EDC) machines. The Bank has been an innovator and market leader in the pre paid category by being the first Indian Bank to launch a foreign currency travel card, a remittance card and a corporate pre paid card.

Sourced From: Adfactors Public Relations Pvt Ltd