This card, available by invitation only, is specifically targeted at a select group of ultra-high-net-worth individuals among Axis Bank's clientele. The Primus card offers a range of exclusive privileges and benefits, leveraging the Visa Infinite Privilege platform, which is being introduced to India for the first time through this partnership.
According to the official press release, India's economy has experienced significant growth, with its GDP reaching approximately USD 3.5 trillion. This economic expansion has contributed to a notable increase in wealth accumulation, reflected by the presence of 200 Indians on Forbes' 2024 World Billionaires list. Projections suggest that India will have around 1.63 million millionaires by 2026. Additionally, the number of UHNWIs in India, defined as those with a net worth exceeding USD 30 million, is expected to grow by over 58% in the next five years.
Ultra-high-net-worth individuals typically require specialised banking services designed for their complex financial needs. The Primus credit card is designed to meet these requirements, offering features that cater to the preferences of India's affluent class. The card provides access to luxury experiences, including exclusive culinary events, personalised travel arrangements, and invitations to private gatherings and art exhibitions.
The launch of Primus represents Axis Bank and Visa's entry into an exclusive segment of the market, aiming to set a new standard in luxury banking experiences. The card offers a variety of benefits, such as private jet access, companion tickets, and preferential treatment at global events. At the launch event held in New Delhi and Mumbai, titled 'Axis Bank PRIMUS Soiree,' the card was introduced to a select group of clients.
Officials from Axis Bank emphasised that the launch of Primus aligns with the bank's strategy to improve its premium client portfolio. They stated that the card will allow Axis Bank to better serve the unique needs of India's elite, offering access to luxury rewards and personalised experiences. Visa representatives highlighted that the Primus card aims to exceed the expectations of its cardholders by providing unique privileges and global acceptance.
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