Apple Pay partnership may take place in a couple of quarters: Kotak Mahindra Bank CEO Ashok Vaswani
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- ✓Kotak Mahindra Bank may partner with Apple Pay in the coming quarters if customer demand stays strong.
- ✓CEO Ashok Vaswani said, "If our customers demand it, we will do it, and we will get it done over the next couple of quarters." The bank currently focuses on growing its credit-card business.
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- India Economy
Kotak Mahindra Bank may explore a partnership with Apple Pay in the coming quarters if customer demand for the service remains strong, Chief Executive Officer Ashok Vaswani said, signalling a potential expansion of the lender's digital offerings. The bank will assess customer demand before deciding on its participation, with no firm timeline announced for a launch. "We will eventually get there (to be a part of the ecosystem). If our customers demand it, we will do it, and we will get it done over the next couple of quarters," Vaswani said during the post-earnings media call on October 24.
If the lender partners with Apple Pay, it would be only the second bank in India to do so, after Apple Pay's partnership with Axis Bank earlier this year. Currently, Apple Pay is available for Axis Bank credit cards issued on the Visa and Mastercard networks.
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