Amazon, being a leading e-commerce company in India, various banks and credit card issuers have partnered with Amazon to attract more and more customers to shop via their portals. Most of the major card issuers, like HDFC Bank, Axis Bank, American Express, YES Bank, etc, offer exciting discounts/rewards/cashback on Amazon. But recently on June 30, 2022, Amazon has withdrawn its offers from different banks and card issuers. No specific reason has been disclosed by the merchant, but it seems it’s limited to just card issuers as the offer is still available on various Cashback sites.
Amazon Exits From Different Bank Offers
The reward portals of different banks, like HDFC’s SmartBuy, Yes Bank’s YesCart, American Express Bank’s Reward Multiplier portal, Axis Bank Grab Deals, etc, offer exclusive rewards & discounts on Amazon and various other brands to the respective bank’s debit and credit cardholders. But, Amazon has exited all these banks’ offers now. However, the offers are still available on other cashback sites, but these have just been withdrawn from banks and card issuers. Moreover, a 2% cashback will be offered on Amazon via the Axis Bank Grab Deals portal, which earlier used to be 10%. Similarly, YES Cart used to offer 10x Reward Points, HDFC’s SmartBuy portal earlier was offering 5% cashback/5x Rewards, and the AmEx Rewards Multiplier portal used to offer 5x Membership Rewards on Amazon. But, the cardholders will no more earn these accelerated rewards/cashback on Amazon.
The reason has not been specified, but we can think of one reason here. The shopping season is coming and Amazon partners with various banks to launch short-term offers during this season every year. But, due to these long-running offers on various banks’ reward portals, customers don’t go for those instant discount offers provided by those partner banks, but they keep shopping through these portals. So, in order to attract customers to such discount offers, finally benefiting the partner card issuer, Amazon has exited such partnerships with various Banks.
Also Read: HDFC Bank Revises Reward Points Earning on Rental Payments Using Credit Cards
Though this withdrawal of Amazon from various banks’ offers can be quite disappointing for some card holders, we are expecting the merchant will launch some great short-term offers in partnership with different banks soon. There are a few things that you should know about, such as the 2% cashback offer on Amazon via Axis Bank Grab Deals, which is still available there at a reduced rate.
Also, if you have any further doubts concerning the above information, let us know in the comments below!
When will accelerated Reward Points offer on Amazon be available?