Bengaluru-based fintech startup CheQ 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 percent of their payment back as CheQ Chips. This is an additional incentive of 0.5 percent over the regular 1 percent that users normally get, CheQ said in a statement.

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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 and 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."

Adding about the partnership, Sanjeev Moghe, President & Head - Cards and Payments, Axis Bank, said, “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. The CheQ app will allow users to pay their credit card bills, loan EMIs from one place and get 1 percent 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.

(Edited by : Anshul)

First Published:Mar 13, 2023 8:39 AM IST