Axis Bank Suvidha Infoserve tie-up to launch pre-paid card
1. Axis bank, India’s third largest private bank, launched a prepaid card to enable instant on-boarding, cash deposit and withdrawal for the customer.
2. The card has a limit of loading up to Rs. 50,000 as balance.
3. The card is issued at a price of Rs. 100 and the charges per transaction range from 1-2 per cent of the amount being transacted.
4. In tie-up with banking correspondent Suvidha Infoserve, the card intends to serve the migrant population and is built on components of its business correspondent network, instant Aadhaar-based e-KYC and interoperability of the prepaid card.
About Axis Bank
1. Chairman – Shikha Sharma
2. Axis Bank limited (formerly UTI Bank)
3. Axis Bank began its operations in 1994, after the Government of India allowed new private banks to be established.
4. Axis bank is the third largest private sector bank in India.
3. It offers financial services to customer segments covering Large and Mid-Sized Corporates, MSMEs, Agriculture and Retail Businesses.
4. Axis Bank has its headquarters in Mumbai, Maharashtra.
5. Axis Bank was founded in 1994
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ICICI Bank, Tech Mahindra launch Tap and Pay
service
1. ICICI
Bank, India’s largest private sector bank, has partnered with Tech Mahindra to
launch contactless payment service to ‘tap and pay’.
2. The
‘Tap n Pay’ is a prepaid account, which can be availed by customers of any bank
by registering for it and transferring money online from any bank account.
3. ICICI
Bank customers can also transfer money to the Tap-n-Pay account through an SMS.
4. ICICI
Bank will allow any bank to register for ‘Tap-n-Pay’ with no documentation or
branch visit required.
5. This
service will offer users to make quick and safe payments like buying meal
coupons at canteens with a tap of their mobile phone or the NFC tag.
6. ICICI
Bank has been initiating a slew of technology led services to tap the digital
banking market.
Technology
used in Tap N Pay
1. It
Based on the Near Field Communications (NFC) technology.
2. This
payment service enables anyone (account holder of ICICI Bank or not) to make
over-the-counter payments without using cash.
3. It
allows users to just tap the NFC enabled tag or mobile phone at the merchant’s
point-of-sale device to make payments.
About ICICI
1. Chairman - Apurva V. Dixit
2. MD & CEO - Ms.Chanda Kochhar
3. Founded - 1994
4. Headquarters Vadodara, Gujarat
5. Type - Public company
6. ICICI Bank, India’s largest private sector bank.
IDBI Bank, NPCI launch platinum debit card
1. IDBI
Bank has tied up with National Payments Corporation of India (NPCI) to launch
Rupay Platinum Debit card with upgraded features.
2. “The
‘Rupay Platinum Debit card’ enables cost-effective, fast and secure access to
large number of ATMs, POS terminals, e-commerce websites and participating
merchant establishments across the country.
3. Customers
can avail benefit from various discounts and offers that can be got on registering
for the card
4. The
card fulfils the vision of the RBI of offering a domestic, open-loop,
multilateral payment system to all banks and financial institutions in India.
5. It
will be instrumental in creating a less-cash economy and furthering the
electronic payments system to make India a financial inclusive economy
6. All
transactions under this card scheme are processed within the country and are in
compliance with the regulatory requirement for debit cards and the PIN has been
made mandatory for performing any kind of transactions.
7. This
ensures a higher level of security to the customers.
About
IDBI Bank
1. Chairman
– Mr. MS Raghavan
2. IDBI
Bank is an Indian government-owned financial service company
3. IDBI
Bank formerly known as Industrial Development Bank of India
4. It
is headquartered in Mumbai, India.
5. It
was established in 1964 by an Act of Parliament
6. The
Main objective is to provide credit and other financial facilities for the
development of the fledgling Indian industry.
7. It
is currently 10th largest development bank in the world in terms of reach
8. It has
2912 ATMs, 1659 branches, including one overseas branch at Dubai, and 1013
centers, including two overseas centres at Singapore & Beijing.