Kotak Mahindra Bank in association with METRO Cash & Carry India on Friday launched a new co-branded Credit Card called 'METRO Kotak Credit Card'.

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This card will provide an easy, interest-free credit facility, for up to 48 days to over 3 million registered METRO India customers. The card has been launched on the RuPay network.

METRO's customer base includes small traders, Kirana owners, MSMEs, small restaurants, HoReCa (Hotels, Restaurants, and Caterers) players, offices, companies, institutions, as well as self-employed professionals.

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The new METRO Kotak Credit Card can be used across METRO's network of 31 wholesale distribution centers (stores) located in 21 cities in India, as well as the METRO Wholesale App – the e-commerce platform.

METRO Kotak Credit Card is designed to fulfill the credit needs of retailers, who buy in bulk to stock their retail shops from METRO; interest-free credit to METRO’s business customers for up to 48 days and credit limit range from Rs 25,000 onwards to a maximum credit based on the customer’s purchase pattern with METRO.

Also, with flexible repayment options through cash or online transfer, card users can earn cashback up to Rs 10,000, per month, subject to their monthly spending at METRO, and METRO business customers, who do not have a bank account, can also apply for the card.

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Frederick Dsouza, business head of credit cards of Kotak Mahindra Bank, said, "We are delighted to launch a credit card tailor-made for the millions of small traders, Kirana store owners, and MSMEs – who form the backbone of the retail industry in the country."

Arvind Mediratta, MD and CEO of METRO Cash & Carry India said as a champion for independent business, the company has always been committed to supporting the local businesses and MSME eco-system and empowering them to make their business more profitable and successful.

Denny V Thomas, head – RuPay, NPCI said the card has been enabled to provide a credit line to retail store operators up to 48 days for payment.

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