India-based Bank of Baroda has partnered with National Payments Corporation of India (NPCI) to launch three new products namely the RuPay Platinum Debit Card, Card to Card Fund Transfer and IMPS for regional rural banks (RRBs).
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The RuPay Platinum Debit Card offers cardholder’s benefits such as INR200,000 ($3,129) insurance cover, 5% cash back on bill payments, and fuel surcharge waiver of up to INR75 ($1.17) per month.
It will also provide cash back of INR25 ($0.39) on train ticket booking, complimentary airport lounge access and concierge services as well as activation offers at Cafe Coffee Day and The Mobile Store.
The Card to Card Fund Transfer will allow customers to transfer funds instantly anytime using debit card number of the beneficiary without requiring account number/IFSC.
Additionally, the IMPS (Inward remittance) transfer facility, which has a turnaround time of 18 seconds, will be provided to 1,826 branches of bank’s three RRBs.
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By GlobalDataNPCI MD and CEO A P Hota said: "With huge customer base of Bank of Baroda in the country, RuPay Platinum card will certainly create a difference in the premium card market segment and will extend the gains to customers through unique offers that are widely acceptable at all payment channels – ATM, PoS and eCommerce."
