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Kotak Mahindra Bank and Innoviti Payment Solutions on Thursday announced that they have collaborated to offer equated monthly instalments (EMI) billing options on Kotak debit cards swiped on Innoviti POS terminals.
The facility will allow over 1 crore Kotak customers to pay for their purchases in instalments by using the EMIs on debit cards facility at over 70,000 Innoviti POS terminals across more than 1,000 cities.
“Importantly, with over half of Innoviti’s POS terminals installed in 350 smaller cities and towns in India with a population of less than 20 lakh, this arrangement will help consumers particularly in tier 2 and 3 cities access credit conveniently through their Kotak debit cards,” Kotak Mahindra Bank said in a statement.
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