On Friday, Airtel Payments Bank announced its new savings account called ‘Rewards 123’. The account will give customers value and benefits when they make digital transactions using the bank account.
According to information provided by Wikipedia, Airtel Payments Bank is a public limited company with its headquarters in New Delhi India and is a subsidiary of Bharti Airtel. Airtel Payments Bank is the first company in India to receive a payments bank license from the Reserve Bank of India and was also the first live payments bank in the country.
‘Rewards 123’ can be gotten at a yearly fee of Rs 299 by customers. It encompasses different monthly cashback rewards for payments involving prepaid recharges, post-paid recharges, broadband, landline, and DTH bill payments. The account will allow grant customers the access to shopping rewards and load money benefits. The ‘Rewards 123’ account brings a wide range of benefits for customers on a platter of gold. Users of this account will get free Platinum Online Mastercard Debit card and enjoy zero minimum balance.
While announcing the ‘Rewards 123’ digital savings account, Airtel revealed in a statement that the initiative is “designed to offer consistent value, with assured rewards on different types of digital transactions throughout the year”. Customers can enjoy regular benefits that come with this account for up to a year after paying Rs 960. The account is extremely easy to run, and is easy to use. To create or upgrade to the ‘Rewards 123’ account, all users need is the Airtel Thanks app. Users will also be requested video KYC.
“Our research reflected that digitally ready, time sensitive consumers, seek consistent value during transactions, and are tired of surfing for the next best deal. With this insight, we developed Rewards 123, a consistent value-driven proposition, which can be used safely as a separate account for digital transactions”, the MD and CEO of Airtel Payments Bank; Anubrata Biswas said.
He also added that “this innovation is an important addition to our neo-banking proposition of simple, secure, and value-driven solutions, and will further India’s mission of digital inclusion”.
It is important to note that Airtel Payments Bank is only available in India, for now.