Indian Oil partners with Kotak Mahindra Bank for co-branded credit card

Kotak Mahindra Bank (KMBL) and Indian Oil Corporation Limited today 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 in a statement.

Sandeep Makker, Executive Director (Retail Transformation), Indian Oil Corporation Limited said, “We are very upbeat about the alliance with Kotak Mahindra Bank Limited. This partnership will help Indian Oil and Kotak Mahindra Bank Limited to further strengthen their brand reach and deepen customer engagement. This new co-branded credit card will be another initiative to promote the Government’s vision of a Digital India. More than 98 percent of the Indian Oil’s 33,000 plus 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.”