ICICI Bank’s partnership with PAYBACK (Loyalty solutions) is expiring on 31st March 2022. ICICI Bank has decided not to continue this partnership and start their own rewards programme which they named ICICI Rewards.
All ICICI Bank Credit Card and Debit Card users will receive their reward points which they earn for the transaction they do via ICICI Cards will be credited to the new ICICI Rewards from April 1st, 2022.
Rewards points earned till 31st March 2022 will be credited to their PAYBACK Accounts and users can redeem them by visiting the PAYBACK’s website.
About New ICICI Rewards Program
The New 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.
Validity of ICICI Reward points will be 36 months/ 3years from the date of point issuance. It is same as PAYBACK points.
Currently there is no detail about the Spend/Earn ratio or the redeeming options. If you are interested in it you can read more about this on the official page of the ICICI Rewards.