Kotak Mahindra Bank, PVR Cinemas launch co-branded movie debit card; offer vouchers, reward points: Here's how to apply

Kotak Mahindra Bank and multiplex chain operator PVR on Tuesday launched a co-branded debit card, claiming to be the first ones to offer such a product in the movie and entertainment genre. The partners are seeking to leverage on the rise in usage of debit cards in the aftermath of COVID-19 pandemic and the reopening of cinemas across India.

On taking Kotak PVR debit cards, users will get 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 and beverages at PVR, Kotak Mahindra Bank said in a statement.

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.

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 and 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 and beverages at PVR cinemas.

There will be 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.

Existing eligible KMBL customers can apply online for the Kotak PVR Debit Card through the Kotak Mobile Banking app, Net Banking, the Kotak.com website or by visiting any Kotak branch across India, the bank said.

Non-KMBL customers can open a Kotak Savings Account and then apply for a Kotak PVR debit card directly, it added.