A First in Mauritius: Cim Finance Launches a Credit Card with Unlimited Cashback

Cim Finance has launched the Cashback Credit Card in partnership with Mastercard, replacing the Titanium Card. This is the first of its kind in Mauritius, offering cashback on all purchases without any limits or category restrictions, thus expanding the local credit card offerings.

This initiative is part of Cim Finance's ongoing strategy to make financial services more accessible and tailored to the everyday needs of Mauritian consumers. The launch comes in a market estimated to have between 200,000 and 300,000 credit cards in circulation, a stable yet competitive segment where offerings evolve slowly.

According to Cim Finance, the Cashback Credit Card is designed to be simple and transparent in its operations. Holders receive an unlimited 1% cashback on payments made across several essential categories, including groceries, fuel, pharmacies, clinics, restaurants, and bars. The accumulated amount is automatically credited to the cardholder's account each month, with no action required from them.

Additionally, the card entitles users to four free airport lounge accesses per year when purchasing airline tickets with the card. Users can also access Mastercard Priceless experiences and a selection of partner offers. The monthly fee is Rs 200 plus VAT, but it is automatically waived if the cardholder spends Rs 20,000 or more in a month.

A promotional offer provides a reduced fee of Rs 100 plus VAT during the first year. The interest rate is set at 2.1% per month, and additional fees apply for late payments, exceeding the limit, cash withdrawals, or transactions in foreign currencies. Customers can choose a repayment flexibility ranging from 5% to 100% of the amount due each month, payable via the MoFinans app or at Cim Finance counters.

Through the MoFinans app, users can track their spending, check due payments, verify credit limits, or block and unblock their cards at any time. Cim Finance reminds that, as with all its cards, an interest-free credit period of up to 45 days is applicable.

Ambrish Maharahaje, Group CEO of Cim Finance, stated that this card aims to redefine the perception of credit in Mauritius. "With the Cashback Credit Card, we want to transform how consumers view credit cards. It is no longer just a payment tool but becomes a way to facilitate daily transactions with greater transparency and added value," he explains. He emphasizes that the goal is to democratize access to modern and inclusive financial solutions while promoting secure digital usage.

As a primary member of Mastercard, Cim Finance remains the only non-bank financial institution issuing credit cards in Mauritius. For the Group CEO, this launch strengthens their market position and aligns with a strategy to diversify their products aimed at supporting consumer spending.