Jet Airways and ICICI Bank have announced the launch of the country's first contact-less business credit card for small and mid-sized enterprises (SMEs) and their employees. Christened ‘Jet Airways ICICI Bank Business Advantage Card', this co-branded credit card was lunched with a collaboration between Jet Airways and ICICI bank.
According to a press release on the Jet Airways website, the "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."
The JPMiles earned will be allocated to both the SME and the cardholder(s) in the ratios of 75:25, 50:50 & 25:75 (Miles Split Ratio Module (MSRM)). While, the JPMiles earned by the company are transferred to its ‘Business Rewards+' account of Jet Airways, the points of the cardholder are transferred to his / her individual JetPrivilege account.
ICICI Bank is 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,"We are delighted to partner with Jet Airways and Visa to introduce the country's first contactless business credit card. This collaboration further underscores our commitment to provide SMBs with solutions that will help them to scale up swiftly.
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.”
Companies can subscribe to the card by paying a joining fee of Rs. 2,500 per card and get a host of benefits.
Individual card holder benefits:
- Welcome bonus of 5,000 JPMiles to every cardholder
- Complimentary access to major airport lounges across India
- JPMiles on both spends and repayments
- Additional JPMiles on international spends and on tickets bought from Jet Airways using the card
- Automatic enrolment into Jet Privilege's ‘Business Rewards+' programme, wherein a company-level JetPrivilege account is created thereby allowing the company to accumulate JPMiles basis spends & repayments done by its employees
- 5% discount on base fare for revenue tickets booked through JetAirways.GlobalLinker.com
- Accelerated JPMiles on hotels booked on Kaligo.com
- Complimentary access to the VISB platform
- Additional JPMiles to the company on cumulative spends on Jet Airways and codeshare airlines
One can apply for an ‘ICICI Bank Jet Airways Business Advantage Card' by logging into their internet banking account at www.icicibank.com
or by sending an SMS to 5676766 with the text ‘BCINFO JET'. To read more visit www.icicibank.com/businesscards