Kotak Mahindra Bank Signs Deal with NPCI to launch RuPay Credit Cards
Published On: 07 Dec 2021
Kotak Mahindra Bank recently launched its 'Veer' credit card in partnership with the National Payments Corporation of India (NPCI). This is the first credit card that the private lender has introduced on the RuPay platform.
Marking the 75th year of Indian Independence, the ‘Veer’ credit card is designed exclusively for the armed forces, which includes the Army, Navy, and Air Force. The card aims to fulfil the needs of the people who have dedicated their lives to the service of the nation, while providing a safe and rewarding banking experience.
Kotak has introduced two types of ‘Veer’ credit cards- the Kotak RuPay Veer Platinum credit card and the Kotak RuPay Veer Select credit card. Both the cards have no joining fee and offer benefits such as fuel and railway surcharge waiver, airport lounge access, contactless payments, card activate offer, attractive rewards, etc.
Ms. Praveena Rai, COO, NPCI said in the official press release stated that NPCI was delighted about the association with Kotak Mahindra Bank. She added. “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.” She also hinted at a long- term association with the bank to create customised cards on the RuPay platform that cater to diverse needs of customers.
In the same press release, Mr. Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank 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.” He added that as the credit card industry is expected to see an exponential growth in the coming times, the new partnership with NPCI, which started with the ‘Veer’ credit card on RuPay, will help the bank meet the evolved needs of its customers.
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