Kotak Mahindra Bank and Indian Oil Corporation on Friday announced a strategic partnership to launch the Indian Oil Kotak co-branded fuel credit card.
“The collaboration will offer more value to customers in the form of an enhanced rewards programme giving customers value on fuel spends and on special non-fuel and frequent-spend categories, such as dining and groceries,” said a joint statement by the two companies.
Sandeep Makker, Executive Director (Retail Transformation), Indian Oil Corporation said the new co-branded credit card will be another initiative to promote the government’s vision of a Digital India.
“More than 98 per cent of the Indian Oil’s 33,000 plus fuel stations accept credit card, debit card and wallet payments,” he further said.
Ambuj Chandna, President, Consumer Assets, Kotak Mahindra Bank, said, “Fuel now accounts for a significant proportion of a family’s monthly budget, and our intent with the Indian Oil Kotak fuel credit card is to give our customers the best value power-packed card that enables them to earn more on their high-ticket regular card spends such as fuel, dining and groceries.”