Indian Bank launches prepaid travel, gift cards
Chennai: Public sector Indian Bank on Wednesday launched gift and travel cards in partnership with Mastercard, an official said.
"We are today launching two new prepaid card solutions for our customers. These days, carrying cash is biggest risk. Earlier, international travellers cheques were handy. But the latest is the travel card," Indian Bank Chairman and Managing Director T M Bhasin said.
He said the bank has planned to sell one lakh travel cards and two lakh gift cards by the end of this fiscal.
He said the launch of travel and gift cards follow the success of the Platinum Debit cards that were launched by the Chennai-based bank last year.
The prepaid gift cards are currently available in denominations of Rs 1,000 and Rs 5,000 and can be bought at no additional charge, while the travel cards issued in US Dollars come with an initial load of USD 200, Indian Bank General Manager G N Hegde said.
"We have planned to launch general purpose gift cards and multi-currency debit cards in the next few months", he said.
The prepaid gift cards would be initially available in select branches of the bank, he added.