Kotak's League RuPay Card bets on UPI-credit boom, waives ₹499 fee at ₹50K spend
Kotak Mahindra Bank's new League RuPay Credit Card targets UPI-first consumers as RuPay credit-on-UPI transactions hit 750M in FY25 YTD (vs 362M prior year). Perks include 8 points per ₹150, PVR tickets at ₹1.25L spend, and fuel/rail surcharge waivers. Annual fee waived at ₹50K spend.
What happened
Kotak Mahindra Bank · Kotak's League RuPay Credit Card targets UPI-first users with ₹499 fees waived at ₹50K spend, reward points, PVR tickets, and fuel/railway
Key facts
- 750 million RuPay-UPI transactions FY25 YTD Oct
- ₹63,825 crore RuPay-UPI value
- 362 million transactions prior year
- ₹33,439 crore prior-year value
- 50% share of new credit cards by Jun 2024
- ₹499 joining/annual fee
- ₹50,000 spend waiver
- 8 reward points per ₹150
- ₹1,25,000 spend unlocks 4 PVR tickets
- ₹2,000 MDR-free UPI cap
Why this matters
As banks race to own the UPI-credit rail, expect accelerating M&A and partnership activity around rewards platforms, co-brand merchants (PVR-style tie-ups), and UPI-credit fintech enablers.