AJIO’s official PhonePe terms page says users making purchases of ₹1,000 or more using RuPay credit card on PhonePe UPI can become eligible for cashback of up to ₹500, with a minimum assured cashback of ₹18.
Because this is tied to payment mode and not a promo code box, it should be treated as a no-code coupon-format offer.
It is still highly usable for shoppers who prefer UPI payments and want an extra savings layer beyond the listed product discount.