ICICI Bank's "Get up to 100% Cash Back" Offer


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Case Details:

Case Code : FINC046
Case Length : 08 Pages
Period : 1992-2006
Pub. Date : 2006-2007
Teaching Note :Not Available
Organization : ICICI Bank
Industry : Banking and Financial Services
Countries : India

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Excerpts

In October 2006, ICICI Bank, the largest issuer of credit cards in India, announced its "Get up to 100% Cash Back" promotional scheme for its credit card customers. As per this offer, if any customer made a purchase transaction of over Rs. 2,000 on his/her ICICI Bank credit card, he/she could get back cash ranging from a minimum of 1% to a maximum of 100% of the transaction amount.

This scheme was restricted to transactions made at merchant establishments with an ICICI Bank Electronic Data Capture terminal. The offer was open from October 2006 to December 2006.

The cash back percentage would depend on the summation of the digits in the six–digit approval/authorization code (AAC) printed in the ICICI Bank credit card charge slip. The sum of these digits could be in the range of 1 (when the AAC is 000001) to 54 (when the AAC is 999999). Refer to Table I for the details of the cash back percentage corresponding to different ranges of the total of AAC digits...

Exhibits

Exhibit I: Picture of ICICI Bank's Revised Cash Back Scheme
Exhibit II: Detailed Terms and Conditions of the ICICI Bank Credit Card "Up to 100% Cash Back" Offer

Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

 

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