Kotak Mahindra Bank on Thursday announced that it has tied up with Worldline to enable EMI payments through its debit cards in India.
“This will help over 50 lakh eligible Kotak debit card customers to pay for their purchases in easy instalments via the Worldline POS terminals,” it said in a statement.
Worldline manages a network of over 15 lakh merchants across the country, and Kotak debit card holders will be able to avail of the EMI facility across a sizeable number of these merchants in India, it further said.
“Worldline has a strong and dominant presence, especially in tier 2 and tier 3 cities of India, and this tie-up will further empower our customers with a wide network of new merchants for availing the EMI on Kotak debit cards facility,” noted Ambuj Chandna, President– Consumer Assets, Kotak Mahindra Bank.
The minimum purchase value to avail EMIs on the Kotak debit cards facility is ₹5,000, and customers have the flexibility to repay the loan over tenures between 3 months & 12 months. To begin with, EMIs on Kotak Debit Cards is available on all consumer, retail, fashion and electronic goods.
“Offering VAS such as EMIs is in-line with our efforts to create seamless and frictionless customer experience while giving an opportunity to card holders to convert their high value purchases into easier installments,” said Vishal Maru, Senior Vice President, Merchant Services, Worldline India.