South Indian Bank Launches ‘RuPay’ Prepaid, Gift Cards

South Indian Bank recently launched prepaid card and Gift card on RuPay platform. The cards were jointly launched by A.P. Hota, MD & CEO, National Payments Corporation of India (NPCI) and V. G. Mathew, MD & CEO of South Indian Bank in a ceremony held at the NPCI Headquarters, Mumbai.

Speaking at the launch Mathew said, “We encourage customers to use the digital platforms without having to worry about carrying cash. Gifting becomes a beautiful experience with SIB Gift cards and everyone gets the freedom to purchase what they desire.”

The other dignitaries from NPCI present at the occasion were Dilip Asbe, Chief Operating Officer, Anup Nayar, VP – Business Development and Rajeeth Pillai, VP and Head - Business Development while from South Indian Bank Reghunathan K.N, Executive Vice President and T. J. Raphael, General Manager, Marketing & IT were present.

Hota said, “Launch of RuPay Gift card by South Indian Bank will boost the use of card payments. It is a safer alternative than giving cash on occasions. RuPay enabled Gift cards are helping beneficiaries to select their own gifts.”

The SIB Prepaid Card is a re-loadable payment instrument like debit or credit card on RuPay platform. It comes with a maximum validity of three years along with top-up facility in multiples of Rs. 100. The card can be seamlessly used at ATM’s, Points of Sales (PoS) terminals at merchant outlets and e-commerce websites across the country.

The SIB Gift Card is a prepaid, non-re-loadable card on RuPay Platform. There is no need to have an account with SIB to purchase this gift card. The maximum validity period is one year. The card can be used at PoS terminals at merchant outlets and e-commerce websites across the country.