|Lights! Camera! Action! Celebrating the return of the silver screen with the reopening of cinema halls, Kotak Mahindra Bank (KMBL) and PVR Cinemas, the largest chain of multiplexes in India, today announced the launch of the Kotak PVR Movie Debit Card – India’s first co-branded movie debit card. This further deepens their long-standing ‘dosti’ built on two highly successful co-branded credit cards – offering ‘a paisa vasool’ experience to movie enthusiasts across India|
To extend the reach to a much larger audience, PVR and KMBL have launched the Kotak PVR debit card with a power-packed value proposition. Kotak PVR debit cardholders will receive joining vouchers and earn points on every transaction on the debit card (at PVR and outside PVR as well), with no upper limit on the points earned. Points can be redeemed all year round on PVR movie tickets and/or on food & beverages at PVR.
Further, Kotak PVR debit cardholders will get automatically enrolled to the PVR Privilege Plus programme, PVR’s loyalty programme, with enhanced benefits – over and above the PVR Privilege programme.
Puneet Kapoor, President – Products, Alternate Channels and Customer Experience Delivery, Kotak Mahindra Bank Limited said, “We are seeing a gradual return to normalcy and are keen to support the resumption of activities. The first signs of recovery in the entertainment industry are visible with movie theatres reporting higher footfalls and eager audiences keen to experience the magic of the big screen once again. We believe that this is just the right time to further strengthen our Dosti with PVR and introduce the first-ever co-branded movie debit card in India, enabling us to serve a much larger segment of our customers who are avid movie-goers.”
“There is a shift in the aspirations of our customers from value buying to experience seeking and Kotak & PVR will ride on the strong growth potential of the multiplex industry by providing a rich product offering that offers an outstanding movie-viewing experience to our customers,” added Puneet.
Gautam Dutta, CEO, PVR Limited said, “We are extremely delighted to associate with Kotak to introduce the First-in-Market, Entertainment Focused Debit Card which will harness the strength of both brands to attract passionate movie goers to our cinemas. Movie viewing is a universal experience spanning across age groups, gender, occupation and geographies, and the unique co-branded debit card that will enable PVR get access to Kotak’s large customer base and reach will help to tap loyal customers. It will assist us further leverage the potential of the PVR Privilege Programme, India’s first fully digital cinema loyalty programme, where Kotak PVR Debit Card holders get accelerated PVR reward points on movie spends. The launch of the Card comes at the right time when the film exhibition sector is showing strong signals of revival with states relaxing restrictions and cinema enthusiasts resuming their movie going habits with the vibrant content pipeline being showcased at the cinemas”.
The Kotak PVR Co-branded Debit Card – India’s first co-branded movie debit card
· Customers will earn reward points on all spends. Customers will earn 10 reward points for every Rs 100 spent at PVR Cinemas and 0.50 Reward Points for every Rs 100 spent on all other transactions. One reward point is equivalent to One Rupee. Customers can earn unlimited reward points for all the spends done on this card.
· These reward points will get converted to PVR Vouchers upon reaching a threshold of 100 reward points and the vouchers can be redeemed to watch movies and/or to buy food & beverages at any PVR cinema across India.
· Multiple vouchers can be clubbed to make a single payment at PVR Cinemas. There is no cap/ upper limit on the points that can be earned.
· Customers will receive a Rs 500 welcome voucher from PVR when they enroll for the Kotak PVR Debit Card, and thereafter every year cardholders will get a Rs 200 voucher from PVR, which is valid on food & beverages at PVR cinemas.
· Automatic enrollment to the PVR Privilege Plus Programme.
· Existing PVR Privilege customers already earning PVR reward points (Five reward points per Rs 100 spent at PVR) will be upgraded to the PVR Privilege Plus programme and will earn double the reward points (10 reward points per Rs 100 spent at PVR) with the Kotak PVR Debit Card. All their existing points and vouchers will get migrated to the new programme.
· Apart from the above benefits, currently there are offers and discounts at over 100 brands for Kotak PVR Debit cardholders as well as cashback/discounts on Amazon.in, Flipkart, GoIbibo and other leading brands under the KayMall tab on Kotak’s mobile banking app.
· First year joining fee and annual maintenance fee thereafter for the Kotak PVR Movie Debit Card is Rs 499 plus taxes.