New Delhi: Private lender Kotak Mahindra Bank on Thursday announced that it has partnered with the National Payments Corporation of India (NPCI) to launch credit cards on the RuPay platform. "The first credit card to be introduced by Kotak on the RuPay network is the 'Veer' credit card for the armed forces," the bank said in a release.
Kotak stated that the credit card is available in two variants: Kotak RuPay Veer Platinum and Kotak RuPay Veer Select Credit Cards. These contactless cards come with a zero joining fee, it added.
Praveena Rai, COO, 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 (Army, Navy, and Air Force) will provide a safe, rewarding and contactless shopping experience to our uniformed personnel and their families."
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. 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."
Some of the other benefits available on the cards included fuel surcharge, railway surcharge waivers, annual fee waiver, rewards programme, and airport lounge access.
NPCI is an umbrella organization for operating retail payments systems in India.