Kochi, June 30: Private sector Federal Bank, today launched the Federal Bank Visa electron international debit card, that would enable its customers a convenient and secure mode of payment across the world. Holders of the debit card would be able to withdraw cash at any of the over 8,10,000 visa-enabled ATMs across 150 countries and also pay for their purchases at over 120 lakh retail outlets globally, by direct debit to their bank accounts in India, K P Padmakumar, chairman, Federal Bank told reporters here. With a view to reach the convenience of the latest technology-enabled product to the common man, the bank would offer its debit cards free of charge to all its customers, he said, adding the bank's large clientele base from the NRI segment would also find the new product attractive, since they could use the debit card while in India or abroad.
He said the bank had been in the forefront in absorbing latest technology solutions to meet the multi-various needs of the customers. "The international debit card was a natural progression for us and will complement our various technology-enabled products like Internet banking, mobile banking, mobile alerts, telebanking and online bill payments," he said.
Debit card usage had shown high growth in recent times the world over including in India he said, adding the visa electron debit cardholders could also use it at over 70,000 merchant locations in India and withdraw cash from any of the Federal Bank's 150 ATMs and 6000 plus ATMs of other banks, Padmakumar said. Bureau Report