Credit card spends may soon be at pre-Covid levels: Kotak Mahindra Bank

Kotak Mahindra Bank on Thursday said credit cards spends may come back to the pre-Covid levels with the festive season approaching soon.

“When you compare between debit and credit cards, the spending under debt card is more than credit card as per the current data. But, we are just at the cusp of getting into the festival season. When we have done some kind of a test marketing on the consumer sentiment, what we are getting to hear is people are looking forward to the unfolding of the festival season and we would probably see consumption at a different level…” said Puneet Kapoor, president – products, alternate channels and customer experience delivery, Kotak Mahindra Bank.

While launching the Cricket Edition range of debit and credit cards, the bank announced that it is now the official partners of six IPL teams – Delhi Capitals, Kings XI Punjab, KKR, Mumbai Indians, Rajasthan Royals and Sunrisers Hyderabad.

The bank said unveiling of the ‘MyTeam Cards’ is a strategy for its customer centricity and deepening of customer engagement with new offerings.