ICICI Bank ties up with ecommerce firms to expand credit card base

ICICI Bank NSE -0.65 % will expand its credit card base and hopes to quicken the pace of new card additions, riding on new partnerships with ecommerce companies. On Tuesday, it signed a deal with Amazon for a new partnership that will help the bank offer cards to ecommerce customers. This partnership follows one earlier this month when it had announced a tie-up with Makemytrip. “We added 1 million cards in the past one year and through these partnerships hope to add more than that in the next one year,” said Sudipta Roy, head, unsecured assets and cards at ICICI Bank. “The credit card portfolio across the industry is doing well with manageable delinquency rates. We are confident of adding more customers and will look for similar partnerships with other ecommerce companies.”

 

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