Kotak bank partners with IndiGo to offer co-branded credit cards
December 16, 2021
Kotak Mahindra Bank has partnered Indigo to launch co-branded credit cards that offer customer reward points that they can redeem for booking air tickets and other services on IndiGo.
Essentially, the cards will work on a reward proposition of an airline ticket for free.
The bank is offering two co-branded credit cards along with its partner IndiGo. The 6E rewards programme of IndiGo is linked to a co-branded card wherein members can earn rewards by using their plastic on IndiGo and other merchants and redeem them for benefits.
Basically, the idea is that when a customer uses a credit card, the reward points that gets accumulated over a period of time can be redeemed for booking air tickets and other services on IndiGo.
Kotak Mahindra after being conservative on the unsecured credit business since the beginning of the pandemic is now looking to increase it as the economy has bounced back reasonably.
Kotak Mahindra bank has 2.54 million outstanding credit cards in the market as of October 2021. It has added more than 1,00,000 credit cards to its kitty in the last month. The bank is bullish on the segment and in looking to grow.