Mumbai: Amazon Pay and ICICI Bank have rekindled their partnership with the Amazon Pay ICICI Bank Credit Card, benefiting over 5 million users since its 2018 debut. From October 11, 2025, the card will cut the forex markup on international transactions, enhancing its appeal for travelers while continuing to offer generous cashback rewards on various purchases.
The Partnership Reinforces a Growing Trend
Since its launch in 2018, the Amazon Pay ICICI Bank Credit Card has significantly transformed how millions of consumers manage their finances. Over 5 million customers have embraced its benefits, including seamless online transactions and attractive cashback offers. The renewed partnership between Amazon Pay and ICICI Bank signals their commitment to innovate and offer more to their users, particularly in an era where digital payment methods are becoming the norm.
Mayank Jain, Director of Credit and Lending at Amazon Pay India, emphasized the importance of customer satisfaction: “Our over 5 million valuable customers have consistently enjoyed unlimited cashback, zero joining and annual fees, and seamless redemption. We remain dedicated to innovating on behalf of our customers and strengthening rewards in categories that matter most—from everyday essentials to now travel.”
Enhanced Travel Benefits
In a market hungry for flexibility and value, ICICI Bank has raised the bar with reductions to the forex markup for international transactions. Starting October 11, 2025, the markup will decrease from 3.5% to a mere 1.99%, making it more cost-effective for frequent travelers.
The card also continues to offer compelling cashback rewards—5% unlimited cashback on travel bookings made through Amazon Pay for Prime members and 3% for non-Prime members. This enhancement positions the credit card not just as a payment solution but as a travel companion, tailoring its offerings to the needs of digitally savvy consumers.
Vipul Agarwal, Head of Cards and Payment Solutions at ICICI Bank, remarked on this upward trend: “We have observed a rise in travel among Indian customers, along with a growing demand for rich reward propositions and flexible redemption options. By reducing forex markup, we are strengthening the card’s appeal for digitally savvy users seeking smarter ways to pay.”
Current Features at a Glance
The Amazon Pay ICICI Bank Credit Card provides a suite of benefits that can cater to a wide range of consumer needs. Here’s a quick overview of the card’s features and advantages:
| Feature | Details |
|---|---|
| No Annual or Joining Fees | Cardholders enjoy benefits without the burden of fees. |
| 5% Cashback for Prime Members | Unlimited cashback on Amazon shopping (excluding Gold Coins). |
| 3% Cashback for Non-Prime Members | Unlimited cashback on Amazon shopping (excluding Gold Coins). |
| 5% Cashback on Travel Bookings | Available through Amazon Pay for Prime members. |
| 3% Cashback on Travel Bookings | Available through Amazon Pay for Non-Prime members. |
| Reduced Forex Markup | Now only 1.99% on international transactions. |
Understanding the Market Implications
The renewed focus on travel and the enhancement of cashback offers showcase how financial products are adapting in response to consumer desires and market trends. According to the World Bank, India’s travel and tourism sector is poised for substantial growth, with expectations of reaching $500 billion by 2028. This growth represents a large opportunity for financial institutions like ICICI Bank to cater to the evolving needs of travelers.
The strategic partnership between Amazon Pay and ICICI Bank thus aims not only to enhance customer loyalty but also to position the card as the go-to payment solution as more Indians opt for international travel experiences.
Final Thoughts
With a strong emphasis on cashback rewards and reduced transaction costs, the Amazon Pay ICICI Bank Credit Card continues to innovate and cater to the dynamic landscape of consumer financial needs. As digital payments gain traction in India, partnerships like this reinforce the importance of adapting to consumer preferences and market demands.
In a world increasingly dominated by digital finance solutions, the Amazon Pay ICICI Bank Credit Card stands out as a robust option for consumers looking for value—especially for those with a penchant for travel and smart spending. Whether you’re an avid traveler or simply looking to make your everyday expenses more rewarding, this partnership reaffirms the significance of customer-centric financial products and innovation in the banking sector.
Bankerpedia’s Insight 💡
The renewal of the Amazon Pay ICICI Bank Credit Card partnership is a significant step for India’s banking sector, especially amid rising travel demand. The reduced forex markup and enhanced cashback offerings not only simplify international spending but also cater to a digitally savvy consumer base. This approach may encourage increased card usage, benefiting both companies financially while setting a precedent in the credit card space. For consumers, this means more value in everyday transactions and travel, promoting smarter financial habits. Be sure to leverage these benefits wisely.
What Does This Mean for Me? 🤔
- Salaried Person → Lower forex fees benefit international travel expenses.
- Business Owner → Enhanced cashback and lower fees for international transactions.
- Student → Increased cashback and lower fees for international spending.
- Self-employed → Improved travel rewards for self-employed spending flexibility.
- Homemaker → Increased cashback on travel and shopping benefits.
- Retiree / Senior Citizen → Increased cashback benefits for travel and shopping expenses.
- Job Seeker → More cashback and lower fees benefit job seekers financially.
- Farmer / Rural Citizen → Increased cashback and travel rewards benefit rural citizens.
Research References 📚
- www.livemint.com
- RBI
- SEBI
- Ministry of Finance
- NABARD
- Department of Financial Services (DFS)
- IMF
- World Bank
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