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Kotak Bank keen on Enhancing co-branding pacts
June 15, 2023
Kotak Mahindra Bank is currently focussing on deepening its existing co-branding partnerships while it is also looking out for partnerships in new segments, says Frederick Dsouza, Business Head – credit cards.
In addition to this, the bank is also focussing on expanding its credit card customer base in non-metro cities and towns.
“Kotak has been fairly selective about partnerships. Our strategy is achieving scale in the existing partnerships. Also, it is to keep looking out for sectors where we see opportunity to have a large impact,” he said.
Recently, the bank launched digital fashion and lifestyle credit card in partnership with Myntra.
While Dsouza did not specify any potential co-branding partners, he noted that the electronic-commerce segment presents opportunities for co-branding arrangements.
“There are a lot of ongoing discussions. It is too early to comment on specific names or segments. Electronic commerce is a wide segment of sectors in itself. There will be more opportunities there. We are definitely on the lookout.”
In fact, Reserve Bank of India (RBI) data indicates that credit card transactions have risen sharply in recent months whereas debit card transactions have been on the downtrend.
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