ICICI Bank on Thursday launched the country’s first contactless business credit card in association with Jet Airways for small and mid-sized enterprises (SMEs) and their employees.
Christened ‘Jet Airways ICICI Bank Business Advantage Card’, India's largest private sector bank, in a statement said, this co-branded credit card will help customers to save on their business expenses.
It will also provide customers opportunities to earn JPMiles on both spends as well as repayments of credit card on a list of business expense categories, including travel, dining, office stationery, online advertising and vendor payments.
The reward will be in the form of JPMiles, that is allocated to both the SME and the cardholder/s as per the Miles Split Ratio Module (MSRM) chosen by the SME.
The JPMiles can be split between cardholder/s and the company in the ratios of 75:25, 50:50 & 25:75.
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 said 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.