Axis Bank and Scapia launch no-fee travel credit card
The co-branded card offers zero forex markup, no joining or annual fee, travel and everyday-spend rewards, app-based trip booking and airport privileges across Mastercard and RuPay networks.
What happened
Axis Bank and Scapia launched a no-fee co-branded travel credit card in India, offering zero forex markup, travel and everyday-spend rewards, app-based trip
Key facts
- Zero foreign exchange markup
- No joining or annual fee
- Up to 20% rewards on eligible travel bookings
- Up to 10% rewards on other eligible spends
- Users have travelled to over 175 countries
- Third banking partnership
- Onboarding began September 3
Why this matters
Scapia’s third bank alliance underscores the strategic value of fintech-bank partnerships that pair regulated balance sheets and payment-network reach with differentiated travel experiences.
What to watch
- Card approval volumes, active-card rates, and monthly cross-border transaction growth in the first two quarters.
- Changes to lounge-access thresholds, reward earn rates, redemption values, forex exclusions, or merchant-category restrictions.
- Axis Bank disclosures on credit-card additions, revolving balances, delinquencies, and acquisition costs.
- Competitive responses from ICICI, HDFC Bank, SBI Card, Federal Bank, IDFC FIRST Bank, and travel-focused fintech issuers.
- Evidence that Mastercard and RuPay network availability improves acceptance, UPI-linked payment utility, or domestic-spend engagement.
- Axis Bank is likely to market the card to affluent young professionals, existing mobile-banking users, and customers with international travel or online-spend behavior.
- Scapia may use the third-bank partnership to diversify underwriting capacity, expand card issuance, and negotiate stronger travel-supplier inventory and rewards economics.
- Rival fintech-card issuers and banks may launch limited-period zero-forex campaigns or enhance airport, insurance, and travel-booking benefits.
- The partners may add paid premium tiers, secured-card pathways, or spend-based upgrades once a large base of no-fee users is established.