Bengaluru-based fintech startup, CheQ (www.cheq.one), has partnered with Axis Bank, India's third largest private sector bank to make the credit card bill payment experience extra rewarding for its users. As part of a first-of-its-kind partnership, customers who pay their Axis Bank credit card bills on the CheQ app will earn flat 1.5% of their payment back as CheQ Chips. This is an additional incentive of 0.5% over the regular 1% that users normally get.
CheQ Chips are the app's in-app currency, received as a reward for every payment on CheQ. They can be redeemed for vouchers from top brands like Amazon, Flipkart, Swiggy, Zomato etc, or converted to cash & taken to the bank.
The offer will be applicable exclusively for Axis Bank credit card customers from 13 March, 2023 on a minimum bill payment of Rs 100 on the CheQ app.
Commenting on the partnership, Aditya Soni, Founder & CEO, CheQ said, "We are thrilled to partner with Axis Bank in rewarding timely repayment of credit card bills for their customers. CheQ Chips have received lots of love from the community, and we hope that this added incentive for Axis Bank credit card holders will aid us in our goal of helping every Indian understand, manage & leverage credit to its fullest potential."
Adding about the partnership, Sanjeev Moghe, President & Head - Cards and Payments, Axis Bank, said, "At Axis Bank, we believe in putting the customer at the center of all our endeavors, while also generating shared value for all stakeholders in the ecosystem. In this effort, we are delighted to partner with CheQ to incentivise timely repayment of credit card bills. We believe that the reward of extra CheQ Chips for Axis Bank credit card holders will appeal to our customers across India, as they continue making their credit journey more disciplined and rewarding than ever before."
Founded in 2022, CheQ aims to help users understand, manage and leverage credit in ways that augment their lifestyle choices. And while doing so, make the experience fun and rewarding. The CheQ app will allow users to pay their credit card bills, loan EMIs from one place and get 1% back as CheQ Chips on every payment.
The company had raised $10 million USD in July, 2022 in a seed round that saw participation from marquee investors like 3one4 Capital, Venture Highway, Multiply Ventures, Marshot Ventures and Veda VC.
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( With inputs from ANI )
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