New Delhi: Private lender Kotak Mahindra Bank and PVR Cinemas on Tuesday launched the country's first co-branded movie debit card. "Kotak PVR debit cardholders will receive joining vouchers and earn points on every transaction on the debit card (at PVR and outside PVR as well), with no upper limit on the points earned," the companies stated in a joint release. "Points can be redeemed all year round on PVR movie tickets and/or on food and beverages at PVR," they added.
The release further said that users "will get automatically enrolled to the PVR Privilege Plus programme with enhanced benefits."
Puneet Kapoor, President – Products, Alternate Channels and Customer Experience Delivery, Kotak Mahindra Bank said, "The first signs of recovery in the entertainment industry are visible with movie theatres reporting higher footfalls and eager audiences keen to experience the magic of the big screen once again. There is a shift in the aspirations of our customers from value buying to experience seeking and Kotak & PVR will ride on the strong growth potential of the multiplex industry by providing a rich product offering that offers an outstanding movie-viewing experience to our customers."
Gautam Dutta, CEO, PVR Ltd said, "Movie viewing is a universal experience spanning across age groups, gender, occupation and geographies, and the unique co-branded debit card that will enable PVR access to Kotak's large customer base and reach will help to tap loyal customers. It will assist us further leveraging the potential of the PVR Privilege Programme, India's first fully digital cinema loyalty programme, where Kotak PVR Debit Card holders get accelerated PVR reward points on movie spends."
"First-year joining fee and annual maintenance fee thereafter for the Kotak PVR Movie Debit Card is Rs 499 plus taxes," the joint release mentioned.
Kotak said customers can apply online for the debit card through the bank's mobile app, net banking, website or by visiting any branch across.