Kotak Mahindra Bank, NPCI launch credit cards on RuPay platform
Kotak Mahindra Bank (KMBL) has joined forces with the National Payments Corporation of India (NPCI) to launch the bank’s credit cards on the latter’s RuPay platform.
To mark the 75th year of India’s independence, the private sector bank’s first credit card to be introduced on the RuPay network is the ‘Veer’ credit card, exclusively for the Indian Army, Navy, and Air Force.
Praveena Rai — COO of NPCI said: “We are delighted to associate with Kotak Mahindra Bank for the issuance of RuPay credit cards. The Kotak RuPay credit card ‘Veer’ for the armed forces will provide a safe, rewarding and contactless shopping experience to our uniformed personnel and their families.
“We look forward to a long-term association with Kotak and together continue to curate customised RuPay cards suiting the needs and requirements of customers.”
The Kotak RuPay Veer credit card has been launched in a couple of variants —Kotak RuPay Veer Platinum and Kotak RuPay Veer Select.
The two credit cards from Kotak Mahindra Bank are said to be designed specially to fulfil the requirements of the Armed Forces. According to the bank, the contactless cards come with a zero joining fee and offer various benefits to cardholders, which include card activation offer, fuel surcharge and railway surcharge waivers, annual fee waiver, airport lounge access, and rewards program.
Ambuj Chandna — President of Kotak Mahindra Bank Consumer Assets said: “The RuPay payment network has witnessed phenomenal growth over the last few years and we are pleased to tie up with NPCI and launch Kotak credit cards on the RuPay platform. Our first offering together is also a very special one – the ‘Veer’ credit card designed exclusively for our Indian armed forces.
“The credit card industry in India is poised to grow exponentially and we are excited to begin a new partnership with RuPay, as we endeavour to meet the needs of the evolved Indian consumer.”