Axis Bank and Mastercard launch MyBiz credit card targeting sole proprietors and small businesses

Axis Bank and Mastercard have launched the MyBiz credit card, a product directed at sole proprietors and small business owners — a segment both institutions have publicly identified as a commercial priority. The card sits within the World Mastercard category, which this publication characterises editorially as a broadly premium product positioning within the network's commercial range.

What Has Been Announced

The MyBiz card is a joint product between Axis Bank and Mastercard, confirmed across multiple published reports. Its stated target market is sole proprietors and small business owners, a demographic that Axis Bank and Mastercard have explicitly named in their public communications as the intended beneficiaries of the product.

The card carries World Mastercard classification — a tier that, in editorial terms, has typically been associated with higher-spending commercial cardholders, though that characterisation reflects this publication's analytical framing and is not drawn from an official Mastercard product definition available in the verified source material.

Axis Bank and Mastercard have jointly identified sole proprietors and small business owners as the core addressable market for the MyBiz credit card, signalling a deliberate commercial push into business-owner spending.

Who Is Involved

Two executives have been publicly cited in connection with the launch:

• Vivek Gupta, President and Head of Wholesale Banking Products at Axis Bank, was quoted in relation to the MyBiz announcement.
• Anubhav Gupta, Senior Vice President of Business Development at Mastercard, was cited in connection with the Axis Bank partnership.

No additional executives, advisers or third-party institutions are referenced in the verified source material for this product launch.

Mastercard's Broader India Context

Separately from the MyBiz launch, Mastercard selected India as the location for the global debut of its Payment Passkey Service in 2024, according to the company's own investor relations announcement. The passkey service is described by Mastercard as accelerating secure online checkout. This publication notes that the Payment Passkey Service and the MyBiz card are distinct initiatives; the verified material does not establish a direct operational link between them, though both reflect Mastercard's documented strategic activity in India.

The technical standards underlying passkey-based authentication are a matter of ongoing industry development. This publication is not in a position, on the basis of the verified source material alone, to attribute the passkey service to any specific standards body or alliance, and makes no such attribution here.

Why It Matters

The MyBiz card launch is notable for what it signals about product strategy: both Axis Bank and Mastercard are publicly directing a World Mastercard-category product toward sole proprietors and small business owners rather than the larger corporate customers with whom such product tiers have sometimes been associated in editorial commentary. That association, however, is an analytical observation by this publication and is not sourced from the verified material.

For Mastercard, the MyBiz partnership with Axis Bank and the separately announced India-first rollout of the Payment Passkey Service together illustrate a documented pattern of using India as an active deployment market, across both product partnerships and technology launches.

What Remains Unverified

Readers should note the following editorial flags on claims that circulated in earlier drafts of this story and have been removed pending verification:

• A reference to Mastercard expanding ties with what was described as India's largest private bank has been removed. The only bank partnership supported by verified and readable sources in this report is with Axis Bank. Any characterisation of a separate or expanded partnership with another institution requires independent verification before publication.
• A reported Mastercard and City Union Bank announcement described as "India's first one-credential experience" has been excluded. The primary source URL was inaccessible at the time of publication, making independent verification impossible.

This article will be updated if and when additional verified sourcing becomes available on either point.