The Samsung Axis Bank credit card will come in two variants: Visa Signature and Visa Infinite. Both will offer cardholders 10% cashback on all Samsung products and purchases, but with different limits.

Cardholders can also earn rewards on spending at partner merchants and receive other perks such as airport lounge access.

Ken Kang, president and CEO, Samsung South-West Asia, says: "The Samsung Axis Bank Credit Card, powered by Visa, is our next big India-specific innovation that will change the way our customers buy Samsung products and spend on services through a series of industry-leading features."

Sandeep Ghosh, group country manager, India and South Asia, Visa, adds: "Our research shows that 3 out of 4 Indian consumers buy at least one electronic appliance or device every year and spend around INR 40000 on electronics annually.

"We are delighted to partner with Samsung and Axis Bank to introduce a credit card with a strong proposition and great value on home appliances as well as lifestyle goods."