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Indian Bank launches prepaid gift and travel cards

Posted on Sep 26, 08:43PM | IANS

Indian Bank has beefed up its card product portfolio (credit/debit/prepaid) with prepaid gift and travel cards and hopes to rake up good sales numbers for its new cards by the end of this fiscal, said a top official.

Speaking to reporters here Wednesday, chairman and managing director T.M. Bhasin said: "The target is to sell around 100,000 travel cards and 200,000 gift cards by the end of this year."

The prepaid travel card would enable an international traveler to withdraw cash or use the same at any shopping establishment for purchases.

The card with a validity of three years from the date of issue, will have a minium initial load or USD 200 and the minimum recharge limit of USD 100.

On the other hand, the one year validity gift cards are available in denominations starting from Rs.1,000 and going up to a maximum of Rs.50,000. The card can be used in various merchant establishments.

Indian Bank has tied up with Mastercard for this facility.