Kotak Mahindra Bank and PVR launch co-branded debit card. View the benefits, rewards

New Delhi: Kotak Mahindra Bank and multiplex chain operator PVR launched a co-branded debit card on Tuesday, claiming to be the first to offer such a product in the film and entertainment genre.

Addressing a virtual press conference, Kotak Mahindra Bank President, Products, Alternative Channels and Customer Experience Delivery – Puneet Kapoor said: “The bank has been associated with PVR for over 10 years and would like to add more to the existing products of the two Kotak PVR branded co-credit cards “.

“We are building on the strength of our partnership with PVR and also adding a unique entertainment-based debit card,” he said, adding that the Kotak PVR co-branded debit card is “the first debit card from cinema in India “.

PVR CEO Gautam Dutta said cinemas are by far “the cheapest way to entertain for three hours and it’s the most popular entertainment destination” and debit cards provide easy access. We welcome about 100 million people who walk into theaters. “

“Our target audience is between 14 and around 35 years old and a debit proposal, in my opinion, would work wonders because a lot of people, consumers in India are not eligible for a credit card. So it’s really a proposition that works with them, ”Dutta added.

According to Kapoor, customers will earn reward points on all spending on co-branded debit cards, including 10 reward points for every Rs 100 spent in PVR cinemas and 0.50 reward points for every Rs 100 spent. on all other transactions, with a reward point equivalent to Re 1.