Kotak Unveils Falcon Forex Card Exclusively For UAE Travelers

* Travelers using Kotak Falcon card get 100+ offers on tourist attractions, adventure sports, shopping, dining, and unique experiences

* Catering to the aspirational Indian traveling to UAE, including first-time travellers, the card offers savings of up to Rs 20,000

Kotak Mahindra Bank Limited (“KMBL/Kotak”) today unveiled Kotak Falcon Card – a single currency prepaid forex card for the growing number of Indians travelling to the United Arab Emirates (UAE). Kotak Falcon Card’s USP is the safety & 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 Kotak Falcon Card - single currency prepaid forex cardwith an integrated financial and digital payment system. It is no surprise then that 2.46 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 abroad continues to attract more Indians every year to the UAE.

Key Benefits:

• Safety & convenience of making payments during travel through prepaid forex card as against cash

• Travellers using Kotak Falcon card in UAE will get instant discounts at 100+ tourist attractions, adventure sports, shopping, dining, and unique experiences.

• Up to 50% off on tickets to explore various tourist attractions. 

• Up to 20% discounts across restaurants.

• Falcon forex cards will be accepted across all major merchant outlets and tourist attractions in 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 – Kotak Falcon Card – exclusively for 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.”

Kotak Falcon Card will be available for customers in the next two months.

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Limited. The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June 2024, Kotak Mahindra Bank Ltd has a national footprint of 1,965 branches and 3,279 ATMs (incl. cash recyclers), and branches in GIFT City and DIFC (Dubai). For more information, visit the company’s website at https://www.kotak.com/. 

Photo Caption: At an event organised at the Global Fintech Fest in Mumbai today, Kotak Falcon Card – a single currency prepaid forex card exclusively for travelers going to the UAE was unveiled by Rohit Bhasin, President – Head Affluent, NRI, Business Banking and Chief Marketing Officer, Kotak Mahindra Bank [2nd from left]; Muzaffer Hamid - CEO, Mercury Payments Services (UAE); Rajeeth Pillai, Chief Relationship Management Officer, NPCI [left]; and Rina Penkar, Product Head - NPCI International [right].