of India ICICI Bank and cooperated with. National Payments Corporation of India (NPCI) to launch series of credit cards in local payment network RuPay.
As of Monday (August 29), Press release.The ICICI Bank Coral RuPay Credit Card — set to follow the “Rubyx” and “Sapphiro” categories — offers reward points on daily purchases; A contactless card that offers benefits including free domestic airport and rail lounge access and discounts on movie tickets. and dining.
In addition, The card offers benefits from the RuPay network such as accident insurance coverage and exclusive personal services.
See also: India’s ICICI Bank launches digital banking services for small businesses
“We believe our partnership with ICICI Bank will be convenient and rewarding. A pleasant shopping experience for users of this card,” Chief Operating Officer, NPCI; Praveena Rai said in a statement.
“Over the years, RuPay has evolved into a modern, contemporary and youthful brand, providing innovative and customer-oriented value propositions.”
Earlier this year, ICICI, including customers of other banks in the country, India’s first comprehensive “digital ecosystem” for small and medium enterprises (MSMEs) has been announced for the first time.
Better banking services for existing customers in the ecosystem; It includes banking services for MSMEs using other banks and many value added services for all. ICICI argued that this is a change from the current system where banks offer these services to their customers.
read more: Cashfree Payments teams up with NPCI to tokenize RuPay cards
This year saw NPCI also work with payments and API banking solutions startup Cashfree Payments to offer tokenization on RuPay cards for its merchants.
Cashfree Payments’ Token Vault enables merchant customers to store cards on merchant websites or apps and securely process card payments while complying with new guidelines from the Reserve Bank of India (RBI).
The guidelines, which came into effect on July 1, prohibit businesses and payment aggregators from storing card details on their platforms, and say only card networks or issuing banks can store sensitive payment information.
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