Kotak Mahindra Bank and Worldline to enable EMIs on Kotak Debit Cards
By Leandra Monteiro
Kotak Mahindra Bank (KMBL) announced a tie-up with Worldline, a European Leader in payment and transactional service, to enable EMI payments via Kotak Debit Cards in India. This will help over 5 million eligible Kotak debit card customers to pay for their purchases in easy instalments via the Worldline POS terminals.
Worldline manages network of over 1.5 million merchants across India, and Kotak Debit Card holders will be able to avail the EMI facility across sizable number of these merchants in India.
Ambuj Chandna, President– Consumer Assets, Kotak Mahindra Bank said, “At Kotak, we always put our customers first and work to provide them with the best buying options. Our partnership with Worldline enables Kotak customers to break their high-value purchases into affordable and flexible EMI options on a range of products at no extra cost. Worldline has a strong and dominant presence, especially in tier 2 and tier 3 cities of India, and this tie-up will further empower our customers with a wide network of new merchants for availing the EMI on Kotak Debit Cards facility.”
Vishal Maru, Senior Vice President, Merchant Services, Worldline India said, “We are delighted to partner with Kotak Mahindra Bank to enable acceptance of EMI on Debit cards on our terminals. Offering VAS such as EMIs is in-line with our efforts to create seamless and frictionless customer experience while giving an opportunity to card holders to convert their high value purchases into easier installments.”
The minimum purchase value to avail EMIs on Kotak Debit Cards facility is INR 5,000, and customers have the flexibility to repay the loan over tenures between 3 months & 12 months. To begin with, EMIs on Kotak Debit Cards is available on all consumer, retail, fashion and electronic goods. To avail this facility, all a Kotak customer has to do is ask the cashier for the Kotak Debit Card EMI facility, select the preferred EMI tenure and swipe their Kotak debit card to complete the purchase.
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