Kotak Mahindra Bank (KMBL) and IndiGo today announced a strategic partnership for the launch of a co-branded credit card - Ka-ching - under the 6E Rewards program. This collaboration will create value for customers in the form of a powerful product proposition offering a premium rewards experience to customers.
Customer research reveals that travel has emerged as the most sought after redemption category in terms of reward programmes. Customers prefer to receive travel-associated offers and benefits such as free flights while redeeming their reward points - a trend that is expected to accelerate as air travel reaches pre-pandemic levels.
The Ka-ching co-branded credit card, to be launched in November 2021, will provide exclusive travel benefits to members. Available in two variants, 6E Rewards and 6E Rewards XL, the new credit cards will provide a richer travel experience with varied benefits and unmatched rewards to the card-holders keen on domestic or international travel. They will also be able to earn additional 6E Rewards on dining, shopping, transport, medical bill spends, utilities, fuel and other major categories with Feature Partners of 6E Rewards Program. The credit card will allow customers to accrue accelerated 6E Rewards on their spends and redeem these points for airline tickets anytime with no blackout dates on redemptions. Furthermore, customers will have access to other special benefits on IndiGo including complimentary air ticket, discounted convenience fee, priority check-in, choice of seat and a complimentary meal.
William Boulter, Chief Commercial Officer, IndiGo said, "We believe in providing our customers a memorable and hassle-free experience when they fly IndiGo. Our partnership with Kotak Mahindra Bank to launch 'Ka-ching' reinforces that commitment. We are excited to indulge our customers with 6E Rewards on flight bookings, dining, entertainment and other spends that can be redeemed for IndiGo flight tickets and on other products and categories with our commitment to provide a great engagement to our members. We strive to offer the best service to our customers every single day, as their satisfaction is at the heart of what we do. We have immense conviction in our partner KMBL, one of India's leading banks with a vast reach to complement IndiGo's network within the country, while offering unique experiences to our customers. It's a perfect partnership as we believe in consistently enhancing our engagement to deliver great customer experience".
Ambuj Chandna, President - Consumer Assets, Kotak Mahindra Bank said, "As a bank, our philosophy is to provide our customers personalised offerings that best suit their aspirations and preferences. And travel is a category that is growing in importance with customers placing a higher value on air travel-related rewards. The Ka-ching card will offer a rewarding experience to all - whether flying for leisure, business or any other purpose. Customers can accumulate 6E Rewards on all types of spends including travel and these can be redeemed at IndiGo against flights and other benefits, thus making this a preferred card in a customer's wallet. We are delighted to ink this partnership with IndiGo, a brand that is built on the same core value as Kotak of delivering a superlative experience to customers."
IndiGo is the market leader in the Indian passenger air industry enjoying over 57% market share, while KMBL has a customer base of ~27 million as on 30th June, 2021. This partnership will help KMBL and IndiGo increase brand reach and deepen customer engagement.
Shares of InterGlobe Aviation Limited was last trading in BSE at Rs. 1994.90 as compared to the previous close of Rs. 2018.90. The total number of shares traded during the day was 140521 in over 5821 trades.
The stock hit an intraday high of Rs. 2067.00 and intraday low of 1962.50. The net turnover during the day was Rs. 283807270.00.
Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 2157.15 as compared to the previous close of Rs. 2171.15. The total number of shares traded during the day was 74284 in over 5475 trades.
The stock hit an intraday high of Rs. 2181.70 and intraday low of 2116.00. The net turnover during the day was Rs. 159733217.00.