MUMBAI : Private lender Kotak Mahindra Bank and Indian Oil Corporation Ltd 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, it said.
Sandeep Makker, executive director (retail transformation), Indian Oil Corporation Ltd said, “We are very upbeat about the alliance with Kotak Mahindra Bank. Indian Oil strongly believes in transforming fuelling experiences by delivering best value to its customers."
This partnership, Makker said, will help Indian Oil and Kotak Mahindra Bank to further strengthen their brand reach and deepen customer engagement. More than 98% of the Indian Oil’s over 33,000 fuel stations accept credit card, debit card and wallet payments.
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."
