Axis Bank Supermoney RuPay Credit Card to give 3% cashback on QR-based UPI payments

The Axis Bank Supermoney RuPay Credit Card, a lifetime-free product that offers 3% cashback on QR-based UPI payments, was launched by fintech platform super.money in partnership with Axis Bank.

According to the companies, they are aiming to reach the millions of digital-first consumers who usually go unrewarded for their regular purchases, which range from grocery to tea shops.

With incentives up to Rs 500 every billing cycle, the new RuPay-powered card works with both physical point-of-sale and UPI-based Scan & Pay transactions. Although the reward is only available for purchases made via the super.money app, the product is positioned as an affordable and easily accessible option for experienced credit card users.

Since the maximum cashback is Rs 500 every billing cycle, there won't be any further benefits for spending more than Rs 16,667 on qualified UPI QR transactions. Cashback accrual excludes other spend categories, such as government payments, insurance, rent, wallet loading, and petrol, in line with the majority of industry-standard exclusions.

For any other eligible card transactions, including those made outside of the super.money platform, a 1% reward is available.

If purchases are returned, reversed, or later converted to EMIs, cashback may be refunded. Cashback is credited three days prior to the next billing cycle's statement generating date. Despite the lack of reward points, the card offers extra benefits such a waiver of fuel surcharges and special merchant deals with Ola, Myntra, and MakeMyTrip.