Mumbai, 30^th August 2024.

KotakMahindra Bank Limited (“KMBL/Kotak”) today unveiled Kotak Falcon Card – asingle currency prepaid forex card forthe growing number of Indians travelling to the United Arab Emirates (UAE). Kotak Falcon Card’s USP is thesafety & convenience and cumulative savings up to Rs 20,000* it offers, making it lucrative for aspirational Indians.

Travelers using Kotak Falcon card for payments in UAE will get instant discounts at 100+ tourist attractions, adventure sports, shopping, dining, and unique experiences. Additional benefits include complimentary insurance cover, 24*7 reload service, instant refund, and hassle-free card replacement

The Kotak Falcon Card was unveiled at the Global Fintech Fest in Mumbai by Rohit Bhasin,President – Head Affluent, NRI, Business Banking and Chief Marketing Officer, Kotak Mahindra Bank; Muzaffer Hamid, CEO, Mercury Payments Services; and dignitaries from NPCI.

UAE represents an eclectic blend of modernity and luxury. It is also India’s third largest trading partner with an integrated financial and digital payment system. It is no surprise then that2.46 million overnight travellers visited Dubai in 2023^– the highest from any country, as per news reports.The large Indian diaspora, direct flights from many cities across the country and growing aspiration for international travel including first trip abroadcontinues to attract more Indians every year to the UAE.

Rohit Bhasin says, “As part of our focus to be most preferred bank for aspirational Indians, we are delighted to unveil a compelling value proposition – KotakFalcon Card – exclusivelyfor UAE travellers. The single currency prepaid forex card is a unique offering for the growing number of Indians traveling to the UAE, including first-time int'l travellers and provides them safety &convenience on payments made in the UAE and fantastic savings on payments towards leisure activities.”

Muzaffer Hamid says, “By enabling the Kotak Falcon Card, Mercury is advancing our vision of inclusive payments. We are partnering with NPCI International and Kotak Mahindra Bank to expand RuPay’s presence in the UAE, making financial services more accessible and reflecting our commitment to democratizing payments for the broader market.”