Small business owners and sole proprietors in India will soon have the option of using MyBiz, a new credit card that’s a result of the collaboration between Axis Bank and MasterCard.
 
Axis Bank is an Indian multinational banking company, with headquarters in Mumbai. It is one of the largest private sector banks in India, both in terms of assets and market capitalization, which serves as a testament to its superior services and incredible customer benefits.
 
World MasterCard credit cards, along with Visa and American Express, remain the most used payment tools in the world. They’re used widely to complete international payments, pay for goods and services online, and complete safe withdrawals and deposits on online casino sites.
 
However, such sites also accept the likes of Bitcoin and Apple Pay, given that these new forms of payment methods have grown massively in popularity over the years. To encourage more MastardCard usage, developers have created additional perks that come with the MyBiz card.
 
Perks include an annual spending bonus, comprehensive insurance coverage, and discounted prices on both domestic and international flights. MyBiz users can also enjoy discounts on hotel bookings and airport lounge access. Such perks will be ideal for business owners who are regularly on the move and attend international business meetings regularly.
 
Not only does the card provide international benefits, but there are also domestic perks too. When spending the card in India, cardholders can benefit from higher rewards and greater purchasing power. Company CEOs will be able to manage their finances and expenses more easily through employee controls and zero liability protection.
 
Other business-related services include productivity tools, marketing support, security measures, and more. Overall, the card caters to both business and international travel needs in equal measures.
 
The new card is expected to have a significant impact on the corporate credit card market. Its issuance comes in response to India’s growing entrepreneurial market, which specifically demands personalized financial solutions that make conducting business easier. It is hoped that the card will boost productivity and growth in India.
 
India is regularly ranked highly when it comes to global entrepreneurialism. CEOWORLD Magazine recently ranked India 9th in its list of the World’s Most Entrepreneurial Countries. This places it above business powerhouses such as France, Switzerland, Canada, and Australia. The nation is also not far behind Poland, Spain, and the United Arab Emirates. Areas that India scored particularly well in included innovation, labor skills, and infrastructure.
 
This ranking is reflected in India’s current start-up statistics, with a total of 107 unicorn companies and 99,000 startup companies in the country.
 
Clearly, India is already in a healthy business position and will benefit massively from the introduction of such initiatives as the My Biz card.