PVR Kotak Credit Card launches Entertainment Credit Card
PVR Ltd., the leading retail entertainment company and Kotak Mahindra Bank Limited have introduced a unique Entertainment Credit Card proposition for people who enjoy movies and like viewing these larger than life stories in theatres. For the first time in India, movie enthusiasts will now be able to draw a more significant and appealing value from their everyday spends by availing free PVR tickets every month through the PVR Kotak Credit Card.
Acting as a more engaging medium for both PVR and Kotak’s customer base, this product will be effective in enhancing loyalty and retention of PVR customer’s base. Present at the launch Mr. Pramod Arora, Group President and CEO, PVR Ltd. said, “The launch of PVR and Kotak Entertainment Credit Card is yet another important initiative towards PVR fulfilling its vision of being number one in the hearts and minds of people. We are delighted to be associated with Kotak for the first ever Entertainment card by any multiplex in the country. The innovative Entertainment Credit Card is targeted at our premium customer base to give that extra value add and a delightful PVR experience on their spends. Both the multiplex industry as well as the credit card market in India is witnessing an upward swing and we are expecting a very positive response for our Entertainment Credit Card.”
Speaking on the occasion, K.V.S. Manian, Group Head – Consumer Banking, Kotak Mahindra Bank Limited said, “As we know, Indians thrive on “cricket” and “movies” as the two biggest entertainment genres, and hence our endeavor is to create this unique and differentiated Entertainment Credit Card proposition with the leading Entertainment Company – PVR Cinemas in this country. Kotak as a group believes in the philosophy of working very closely with partners and follows a very selective process in choosing its Co-brand partners to ensure success for all stakeholders. This will be our Second Co-brand partnership in the last three years; the first being with Bharti Retail one of the leading retailers in the country.
Subrat Pani, Business Head, Kotak Cards added “there is no other card in the market today which matches the unique and differentiated value proposition offered by the PVR Kotak entertainment Credit Card.” Customers get to enjoy free movie tickets at a rate which is competitively superior to the traditional rewards programme offered. The PVR Kotak customers earn up to two free movie tickets on spends of Rs. 7500 anywhere; it being way higher than most premium credit cards in the market. What’s more the customer earns a bonus free movie ticket; when he spends Rs. 750 in a month at PVR cinemas adding to his value proposition
The PVR Kotak Entertainment card also allows the customer the freedom to choose a low interest rate of 1.99% pm. This low interest rate choice is coupled with customers agreeing to pay a minimum amount due of 20% of their total credit card dues.
The uniquely positioned Entertainment Card offers the three month EMI benefit across any purchases above Rs. 5000 at No interest and no processing fee. This will help customers use credit more wisely since they can plan their finances much better. This is a feature that no other credit card offers and strongly differentiates this card from competition.
The credit card will be available in two variants Platinum and Gold to cater to a larger audience. Besides availing free tickets the customers can also avail exciting offers through the card while dining, traveling or shopping.
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