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    500247   INE237A01028

KOTAK MAHINDRA BANK LIMITED

(500247)
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End-of-day quote Bombay Stock Exchange  -  2022-08-07
1843.75 INR   +0.56%
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BIAL partners with Kotak and Phi Commerce to facilitate omnichannel payment solution

06/18/2022 | 10:48am EDT

With an aim to facilitate a seamless payment experience for customers, Bangalore International Airport Limited (BIAL), the operator of Kempegowda International Airport, Bengaluru (BLR Airport), has introduced an innovative omnichannel payment solution across the airport ecosystem, in partnership with Kotak Mahindra Bank Limited ("KMBL"/ "Kotak") and Phi Commerce. This is a first-of-its-kind initiative undertaken by any airport in India.

The one-stop payment solution, designed specifically for the airport in partnership with KMBL and payment solutions company Phi Commerce Pvt Ltd, will enable a secure, scalable, and unified payment experience across the airport. The solution will power B2B and B2C payments across channels - both online and offline. It will facilitate transactions across the domestic terminal, international terminal, airport city, concert arena, airport hotels, retail, recreation, dining, and entertainment (RDE) destination, airport parking, cargo, and BIAL subsidiaries.

Through its own payment ecosystem, the busiest airport in South India and the third busiest in the country will now have better insights into spending patterns and be able to deliver customer-friendly last-mile promotions.

"We are pleased to partner with Phi Commerce and Kotak Mahindra Bank to bring an innovative omnichannel payments solution for our customers. The new payment experience will bring all online, in-store, and cash transactions taking place across the airport ecosystem into one single platform. BIAL wants to take all payments into a seamless and more innovative world where offline and online payment becomes a mixed reality experience which again will open new airport opportunities for the customer," said BIAL's Chief Commercial Officer, Kenneth Guldbjerg.

"True to Kotak's digital spirit, we are proud to enable payment solutions across the premises of BIAL. Kotak, in partnership with Phi Commerce, will provide all the enterprises running their businesses with point of sale (PoS) terminals and payment gateways for quick and smooth processing of payments from customers. We see great value in our partnership with BIAL," Shekhar Bhandari, President & Business Head - Global Transaction Banking, Kotak Mahindra Bank.

"Kotak's partnership with BIAL will open a world of financial opportunities to clients working in the BIAL ecosystem. We are happy to collaborate with BIAL in further smoothening the financial journeys of their clients. Together, with ease in payments and Kotak's digitally-powered solutions, we will make shopping a truly enriching experience for visitors at the BIAL premises," said Puneet Kapoor, President

- Products, Alternate Channels and Customer Experience Delivery, Kotak Mahindra Bank.

"By leveraging Phi Commerce's robust omnichannel payment capabilities, we can provide a one-of-a- kind payment experience at one of the best airports in India. This payment solution is path-breaking in its ability to provide customer delight at check-out every single time and has applicability across large retail ecosystems in the country and globally as well. We are excited to see this new payment experience come alive at the airport in Bengaluru, a city renowned for being one of the largest tech hubs in the world," said Jose Thattil, CEO and co-founder, Phi Commerce.

Copyright 2022 Future Aviation Media Pvt Ltd, distributed by Contify.com, source Contify News

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Financials
Sales 2023 558 B 7 009 M 7 009 M
Net income 2023 137 B 1 723 M 1 723 M
Net Debt 2023 - - -
P/E ratio 2023 26,4x
Yield 2023 0,06%
Capitalization 3 661 B 46 016 M 46 016 M
Capi. / Sales 2023 6,56x
Capi. / Sales 2024 5,67x
Nbr of Employees 90 000
Free-Float 70,5%
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Last Close Price 1 843,75 INR
Average target price 2 054,50 INR
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Uday Suresh Kotak Chief Executive Officer, Joint MD & Director
Dipak Brijmohandas Gupta Joint Managing Director & Director
Devang Gheewala Co-President & Chief Operations Officer
T. V. Sudhakar Co-President & Head-Compliance
Jaimin Mukund Bhatt Group Chief Financial Officer & Group President
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