Amazon Pay and Kotak Mahindra Bank (“KMBL”) today announced the Amazon Pay Kotak Business Credit Card for sole traders and small businesses. The card will be available to registered users of 'Amazon Business', a digital shopping platform serving millions of businesses in India. The card will offer cashback rewards and additional interest-free credit periods, helping entrepreneurs manage business purchases more efficiently while preserving working capital.
India's Micro, Small and Medium Enterprises (MSME) sector comprises more than 9.4 crore enterprises registered on the Enterprise Portal, contributing more than 30% to the country's Gross Domestic Product (GDP). Yet, many small businesses do not have access to formal credit products tailored to their business needs. As entrepreneurs adopt digital procurement, GST-compliant registration and structured financial processes, there is a growing demand for solutions that manage their expenses, cash flow and business operations more efficiently.
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Mayank Jain, Director (Credit & Lending), Amazon Pay India said, “Amazon Pay has made credit easier for millions of Indian consumers. Now we are doing the same for small businesses. The Amazon Pay Kotak Business Credit Card extends this facility to sole traders and small businesses who make up 70% of Amazon Business' customer base. The needs of these small businesses—transparent on purchases on Amazon Business “We designed this card with rewards and credit availability in mind. By partnering with Kotak Mahindra Bank, we are bringing together Amazon's reach to millions of businesses and Kotak's expertise in SME loans to create a great financial option for entrepreneurs across the country.”
Frederick D'Souza, Head of Credit Cards, Kotak Mahindra Bank, said, “Small businesses are the engine of the Indian economy. They supply goods, create jobs and sustain trade in every city, even with limited resources and manpower. Their entrepreneurship is truly commendable and this confidence needs to be complemented with the right tools. This card will provide benefits in line with the actual working practices of these businesses;
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These include interest-free credit periods that facilitate cash flow, no-cost EMIs for large purchases, and cashback on expenses already incurred for business growth. With Amazon Pay, we're able to bring this convenience to businesses across the country on a platform they already trust.”
