Amazon, the global e-commerce giant, has teamed up with Barclays, a major British multinational bank, to launch a new co-branded credit card in the UK.
This collaboration aims to offer a credit card packed with perks, designed to provide consumers with enhanced value on their everyday purchases, according to Finextra.
The launch of this new card is driven by the growing demand for flexible and rewarding payment solutions.
As more consumers seek benefits from their credit card usage, Amazon and Barclays have responded by offering a product that caters to these needs, ensuring customers can maximise their spending with rewards that align with their shopping habits.
Amazon, known for revolutionising e-commerce and retail globally, has continuously expanded its ecosystem to include financial services.
Barclays, with a rich history in banking and financial services, has been a leader in providing innovative financial products. Together, the two companies have created a product that combines the best of both worlds: the convenience and extensive reach of Amazon’s platform with Barclays’ financial expertise.
The new Amazon Barclaycard allows customers to earn rewards on every purchase. For Amazon purchases, customers will earn 1% rewards, while everyday spending outside of Amazon will yield 0.5% rewards for the first 12 months and 0.25% thereafter.
Additionally, Amazon Prime members are entitled to 2% back on all Amazon spending during key shopping events such as Cyber Monday, Black Friday, and Prime Day. These rewards can be tracked and redeemed for Amazon gift cards through the Barclaycard app.
Importantly, the card has no annual fee, and new customers receive a £20 Amazon.co.uk gift card upon approval of their application.
This credit card is the latest in a series of collaborations between Amazon and Barclays, following the successful launch of ‘Instalments’ by Barclays in the UK.
This feature offers a reusable credit account that allows Amazon customers to spread the cost of purchases over £100 across fixed monthly payments.
Separately, Amazon has also begun rolling out a rewards-based Visa credit card for German consumers in partnership with Banco Santander, further expanding its financial services offerings in Europe.
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