This bank introduces the country's first credit card with no expiration date, CVV, or annual charge. How does it function?

 This bank introduces the country's first credit card with no expiration date, CVV, or annual charge. How does it function?

India's top Fintech, Fibe (formerly EarlySalary), and Axis Bank, one of the country's biggest private sector banks, teamed together to provide the country's first-ever numberless credit card for the digitally aware Generation Z.

"This numberless Axis Bank card will put an emphasis on the security of our clients while offering a robust financial solution than empowers the intelligent and aspirational youth of our nation," said Sanjeev Moghe, President and head of Cards & Payments, Axis Bank. For the varied and expanding customer group, diversity and accessibility are key components of our broader banking strategy of being connected.

We take great delight in releasing India's first numberless credit card, in conjunction with Axis Bank, said Akshay Mehrotra, Co-Founder and CEO of Fibe. This outstanding card marks a huge step forward in our mission to provide safe and accessible financial solutions to India's aspirational young. In order to empower our users and set a new standard for the credit card industry, we combine the simplicity of UPI payments with a safe and secure payment infrastructure.

The first ever numberless credit card issued in India: Features

Since the card number, expiration date, and CVV are not written on the card's plastic, clients who use numberless credit cards benefit from an extra layer of protection. This increases security and privacy by lowering the possibility of identity theft or unauthorized access to consumer card information.

The consumer may attach this credit card to UPI since RuPay powers the card. 

Along with all digital channels, the card is accepted at all physical retailers. 

The tap-and-pay option is also available for increased convenience. 

This card has no initiation costs and no yearly fees ever. 

A flat 3% cashback is offered on online meal delivery across all restaurant aggregators, local transportation on the top ride-hailing apps, and entertainment on online ticketing platforms by the potent co-branded credit card.

 Customers also get 1% cashback on all in-person and online purchases.