Redefining Digital Credit in India
The Google Pay Flex Axis Bank Credit Card is India’s first credit card launched by Google, integrated directly into the Google Pay platform. This co-branded digital credit card, a partnership between Google Pay and Axis Bank on the RuPay network with UPI integration, aims to redefine convenience and flexibility for Indian consumers by enabling credit payments for UPI transactions and offering instant rewards.
Key Features and Benefits
- RuPay Network & UPI Integration: Link the card to UPI for merchant payments at offline and online merchants.
- Instant Reward Redemption: Earn “Stars” (1 Star = ₹1) on eligible spends, redeemable instantly on any Flex transaction.
- Digital Application & Management: Fully digital, paperless application within minutes. Comprehensive in-app controls for spending, limits, blocking/unblocking, and PIN resets.
- Flexible Repayment Options: Pay full outstanding or convert eligible bills into EMIs within the app.
- Lifetime Free Card: No joining or annual fees.
- Welcome Benefits: Typically ₹500 value, including a ₹250 gift card and 250 bonus Stars.
- Dining Discounts: Perks like dining discounts via EazyDiner.
Eligibility Criteria
- Indian residency.
- Age between 18 and 70 years.
- Healthy credit history (good CIBIL score recommended).
- Active Google Pay user with a verified bank account linked to UPI.
Application Process
The application is entirely digital and paperless via the Google Pay app:
- Open Google Pay: Navigate to the “Money” section.
- Find & Apply: Tap on “Get Flex” or “Credit Cards” and then “Apply now”.
- Enter Details: Provide personal, professional, and income details, including PAN and PIN code.
- Complete KYC: Digital KYC (PAN and Aadhaar for OTP or video verification).
- Review & Submit: Review terms, add card preferences, and submit.
- Verify: Verify the application with an OTP.
- Instant Access: Upon approval, instant access to the virtual card.
- Activate: Set the UPI PIN to activate and start using the card.
Rewards Program (“Stars”)
Earning Rate:
- Base: 1 Star per ₹500 spent.
- 2X Stars: 2 Stars per ₹500 spent if at least ₹100 was spent in the previous cycle.
- 4X Stars: 4 Stars per ₹500 spent if at 2X and spending > ₹15,000 in the same period.
- 8X Stars (Max): 8 Stars per ₹500 spent if at 2X and spending > ₹30,000 in the same period.
Redemption:
Each Star is valued at ₹1 and can be redeemed instantly on any Flex transaction via Google Pay.
Fees, Charges, and Interest Rates
- Joining Fee: Nil
- Annual Fee: Nil
- Late Payment Charges:
- < ₹500: Nil
- ₹501 – ₹5,000: ₹500
- ₹5,001 – ₹10,000: ₹750
- > ₹10,000: ₹1,200
- EMI Processing Fees: May apply and will be communicated in-app.
- Standard Finance Charge: 3.75% per month (55.54% per annum).
- EMI Interest Rates: Set by Axis Bank based on credit profile and tenure, with details available in the Google Pay app.
Security Features
- In-app Control: Instant setting of transaction limits, blocking/unblocking the card, and PIN resets.
- Fully Digital Card: Exists on the smartphone, reducing physical card risks.
- Secure Digital Platform: Leverages RuPay network, Google Pay’s security infrastructure, and UPI.
- Axis Bank Security: Benefits from standard Axis Bank credit card security features like zero lost card liability and IVR dual authentication.
Conclusion
The Google Pay Flex Axis Bank Credit Card represents a significant advancement in India’s digital payment ecosystem, merging UPI convenience with credit card flexibility, instant rewards, and comprehensive in-app management. Its digital-first approach, transparent fees, and robust security make it a modern and empowering financial tool for Indian consumers.
About the Author
