Customers using the co-branded credit cards of MakeMyTrip and ICICI Bank can convert their daily spends on the card to 'MyCash', which is the reward currency of the travel portal.
ICICI Bank Ltd and online travel portal MakeMyTrip have joined hands to launch a wide range of co-branded credit cards. Through the partnership, the two companies seek to leverage expertise of each other to offer benefits on travel related expenditures to millions of customers using their services, according to a statement.
Customers using the co-branded credit cards – MakeMyTrip ICICI Bank credit cards – can convert their daily spends on the card to MakeMyTrip ‘MyCash’, which is the reward currency of the travel portal. Each reward point earned as ‘MyCash’ will have a value of Rs 1 and can be redeemed across a wide range of categories on the travel portal such as air travel, hotel booking and holiday packages.
Furthermore, customers using the cards can also redeem for vouchers of partner merchants including cab aggregators, online movie ticketing platforms, e-commerce portals among many others, the statement said. On specified spends on the card, the customers will be given additional rewards points, advantage of joining benefits, along with ‘MMTBLACK’ and MMTDOUBLEBLACK’ – loyalty program of MakeMyTrip, it added.
“Our research indicated that customers are looking at newer card reward propositions which provide them the flexibility to accumulate reward points and redeem them for travel and entertainment related spends,” said Anup Bagchi, executive director of ICICI Bank.
Apart from the above, all MakeMyTrip ICICI Bank card holders will get exclusive benefits including complimentary lounge & spa access at domestic & international airports and railway lounges, vouchers from Lemon Tree Hotels as well as number of other benefits with BookMyShow, Airtel, Ola and more.
The rewards points have the validity of upto one year from the date of issuance and there is no maximum limit for reward points that can be accumulated in ‘MyCash’.