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Bye Payback : ICICI New Rewards Program from April 2022

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Generous
bohemian

Our valued partnership with PAYBACK (Loyalty solutions) is expiring from Mar 31, 2022. It has been our privilege to serve you through this partnership for many years. We will credit all your PAYBACK Reward Points earned until March 2022 (Till your March, 2022 Statement/Billing Date) to your PAYBACK Account. Your PAYBACK points can be seamlessly redeemed exclusively from the PAYBACK


We are delighted to launch a new ICICI Bank Rewards programme starting from Apr 01, 2022. You will now earn ICICI Bank Reward Points towards spends on your Credit & Debit Cards. You can track your ICICI Bank Reward Points through Internet Banking & the iMobile Pay app. Redemption of your ICICI Bank Reward Points, accrued from April 2022, shall start from Jul 01, 2022 on our rewards platform, with a specially customised list of hundreds of premium brands and services offerings.

https://www.icicibank.com/Personal-Banking/rewa...

Will I be able to redeem my ICICI reward points against the outstanding on my ICICI Bank credit card?

You will be able to redeem your ICICI reward points earned on your ICICI Bank Credit Card against the outstanding on your ICICI Bank credit card soon after 1st July 2022.

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55 Comments  |  
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Benevolent Benevolent
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much needed. and thank god ICICI is getting rid of payback.
now i hope they launch something useful this time.

Deal Subedar Deal Subedar
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With ICICI it will be reward points for 1st 200 customers 😬

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Benevolent Benevolent
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hope something good comes up without stupid redemption charges

Generous Generous
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Reward page show
Airline, gift card, hotels. etc somewhat like SB,

but its icici so not much hope, anything other than payback is good

Deal Cadet Deal Cadet
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The only hope from ICICI is that they keep the new reward program as bad as the existing Payback program and not something worse which is a high probability.

Deal Cadet Deal Cadet
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What about existing points should we claim that or leave it???

Finance Mentor Finance Mentor
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most probably we need to forgo payback points if they are less than 400

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Deal Subedar Deal Subedar
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they shd improve reward on emerald and sapphiro

Deal Captain Deal Captain
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Currently they are charging 25+gst for online and 100+gst for offline(I think) for icici linked payback account points redemption. I hope they won’t charge if we redeem after Mar 31st as the link between payback and icici gets broken after Mar 31st.

Post Emperor Post Emperor
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Payback has been purchased by BharatPe so this was surely going to happen.

Finance Ninja Finance Ninja
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Koi logic banta ha ish baat ha. 😀

Pro Deal Legend Pro Deal Legend
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Dear Customer,

Our valued partnership with PAYBACK (Loyalty solutions) is expiring from Mar 31, 2022. It has been our privilege to serve you through this partnership for many years. We will credit all your PAYBACK Reward Points earned until March 2022 (Till your March, 2022 Statement/Billing Date) to your PAYBACK Account. Your PAYBACK points can be seamlessly redeemed exclusively from the PAYBACK website (www.payback.in), PAYBACK app and at PAYBACK partners, as per the programme.


We are delighted to launch a new ICICI Bank Rewards programme starting from Apr 01, 2022. You will now earn ICICI Bank Reward Points towards spends on your Credit & Debit Cards. You can track your ICICI Bank Reward Points through Internet Banking & the iMobile Pay app. Redemption of your ICICI Bank Reward Points, accrued from April 2022, shall start from Jul 01, 2022 on our rewards platform, with a specially customised list of hundreds of premium brands and services offerings.



https://www.icicibank.com/Personal-Banking/rewa...


Reward Points



ICICI Rewards Program will start on April 1, 2022. You will earn the new ICICI Reward Points on purchases made using on your ICICI Debit and Credit Cards from April 1, 2022 as per the card product features.




  • You can choose to redeem your Reward Points through our new reward platform starting July 1, 2022 from a list of hundreds of premium brands and services offerings.



  • PAYBACK points earned until 31st March, 2022 will be credited to your PAYBACK account. Starting April 1, 2022, you can redeem your PAYBACK points exclusively from PAYBACK website, PAYBACK app and at PAYBACK partners.

What is the new ICICI Rewards program?

ICICI Bank Credit & Debit Cards is launching a new exciting, state of the art ”ICICI Rewards Program’ on 1st April 2022 with a bundle of new offers.


The points earned on ICICI Bank Credit Card or Debit Cards from 1st April 2022 will be accrued as a part of the new ICICI Rewards Programe.


You will be able to redeem your ICICI Reward Points through ICICI Bank channels from 1st July 2022.



Where can I see points accrued on my cards under the ICICI Rewards Program?

Reward points will be seamlessly accrued into your ICICI Rewards account from 1st April 2022. You will be able to view your ICICI Reward Points on your ICICI Bank Credit and Debit Cards through ICICI channels from 31st May 2022.


All your points accrued under the new ICICI Rewards Program will be available for redemption from 1st July 2022 via ICICI Bank channels.


How can I redeem new ICICI Reward Points which are earned from 1st Apr’22?

Redemption of your ICICI Bank Rewards will be enabled from 1st July 2022 through the ICICI channels.


You will receive ongoing communication on this in the next few months



Deal Newbie Deal Newbie
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Ok.. ta ta.. bye bye..

Deal Subedar Deal Subedar
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The problem with payback redemption was huge service charge. I stopped using ICICI card due to that . Hope new reward doesn’t do that

Generous Generous
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Finally my call has been answered tada tada tada

Finance Ninja Finance Ninja
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Yeh sab se kiya hota ha rewards points value toh same he hoga. 😀

Pro Community Angel Pro Community Angel
Moderator
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Ye shubh kaam karne mein itni der laga di.. triumph smile

Khair, redemption mein Amz GV aane ke kitne chances hain, woh bhi without any fee? wink stuck_out_tongue

Tech Guru Tech Guru
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Big Bazaar ke demise ke baad ye bhi ho gaya. 🙂🙂🙂 Payback kaa naam big bazaar ke store se hi suna tha. 

Helpful Helpful
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So with ICICI moving out of payback, do they even have a big partnership remaining? What a waste of an acquisition by bharatpe

Generous Generous
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Isn’t bharatpe itself is a waste?

Deal Cadet Deal Cadet
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ICICI Bank is launching new Rewards programme starting from Apr 01, 2022.

You will now earn ICICI Bank Reward Points towards spends on your Credit & Debit Cards. You can track your ICICI Bank Reward Points through Internet Banking & the iMobile  Pay app. Redemption of your ICICI Bank Reward Points, accrued from April 2022, shall start from Jul 01, 2022 on our rewards platform, with a  specially customised list of hundreds of premium brands and services offerings.

Until March 2022 (Till your March,2022 Statement/Billing Date), reward points will continue to be credited to PAYBACK Account. Your PAYBACK points can be seamlessly redeemed exclusively from the PAYBACK website (www.payback.in), PAYBACK app and at PAYBACK partners, as per the programme. Their validity remains same – 36 months from date of accrual.

FAQ Page

https://www.icicibank.com/Personal-Banking/rewa...

My key takeouts:

All your points accrued under the new ICICI Rewards Program will be available for redemption from 1st July 2022 via ICICI Bank channels.

You will be able to redeem your ICICI reward points earned on your ICICI Bank Credit Card against the outstanding on your ICICI Bank credit card soon after 1st July 2022.

Let’s wait for more details, reward ratio etc. Personally I didn’t like PAYBACK much because of redemption fees for all and also overall poor reward ratio. Let’s see how is ICICI Rewards Programme structured

Deal Cadet Deal Cadet
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From April can i redeem on Payback site without any charges?

Deal Cadet Deal Cadet
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My key takeouts:

All your points accrued under the new ICICI Rewards Program will be available for redemption from 1st July 2022 via ICICI Bank channels.

You will be able to redeem your ICICI reward points earned on your ICICI Bank Credit Card against the outstanding on your ICICI Bank credit card soon after 1st July 2022.

Let’s wait for more details, reward ratio etc. Personally I didn’t like PAYBACK much because of redemption fees for all and also overall poor reward ratio. Let’s see how is ICICI Rewards Programme structured

Generous Generous
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Rewards redemption fee will be there for sure. Hoping for better rewards rate for premium cards like Sapphiro stuck_out_tongue_winking_eye

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Deal Cadet Deal Cadet
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@admin mods

Pls delete. Just saw that @bohemian already posted it. I was late


Edit: Thanks, post merged

Benevolent Benevolent
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Most banks have tied up with Gyftr for redemption. Even payback was using Gyftr. So, most possibly ICICI would also shift to Gyftr. But not very hopeful of reduced redemption charges. Its ICICI after all. 

Generous Generous
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that’s a different thing bro… gyftr is more like redemption of earned reward points and not a reward point system in itself…

Deal Cadet Deal Cadet
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Can I redeem my payback points?

Pro Deal Legend Pro Deal Legend
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yes

Deal Cadet Deal Cadet
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February month points still not credited yet

Generous Generous
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About Redemption charges. I had payback card. I merged my icici one with my earlier card

I was never charged for redemption

I redeemed on mobikwik till it was available

or directly on voucher world for amazon  gvs.

Deal Lieutenant Deal Lieutenant
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Koi bol hi raha tha desidime pe ki jab tak payback nahi jayega, icici cards me reward points ka koi matlab nai. Aur ab ye ho gaya. Vah!

Super Stud Super Stud
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EndGame for payback is here. 

1. Pantaloons moved away from payback few years ago. 

2. Last year big bazaar moved away from payback.

3. This year ICICI will move way from payback. 

Guess who owns payback now?

BharatPe 



Ashneer Grover – Kar kya rahe ho??

Soon, American Express can stop payback based credit cards.

Benevolent Benevolent
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Originally it was I-Mint, partly owned by ICICI.

Then it was taken over by German owned Payback but ICICI retained their share.

Then German parent co of Payback was taken over by Amex but ICICI share remained.

Then Amex and ICICI both sold their shares in Payback India to Bharatpe.

Then Bharatpe kicked out Grover.

Future group had association with ICICI so they supported payback.

Then Future group sold Pantaloons to Aditya Birla Group and Pantaloons moved away from Payback.

Then Future group got into negotiations with Amazon and Ambanis so the moved away from Payback. 


Deal Cadet Deal Cadet
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Fraud Ashneer Grover has been thrown out of BharatPe

Benevolent Benevolent
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@atx88

Bank>Payback points>Gyftr or Bank>Bank points>Gyftr:
End result is practically the same.

Generous Generous
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yes that is, except for one thing:

icici rubyx > 2 payback points per 100 > Gyftr (value = ₹0.5) => poor
indusind iconia > 2 bank points per 100 > Gyftr (value = ₹2) => niiiccee

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Deal Cadet Deal Cadet
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Happy getting rid of icici…they charged me 199rs for redeeming 4 points earned from icici sad rest was earned from other Vendors

Generous Generous
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wouldnt have considered icici at all if Amazon rewards was not there. Icici is not even worth the ltf cards even the premium ones. 

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