India’s largest private sector bank, ICICI, has launched its
first EMV chip-based credit card – the ICICI Bank Coral Credit
Card.
The launch of the coral card by ICICI
comes just after a few weeks after the launch of its prepaid remittance scheme. Visa recently expressed
its belief that
EMV migration is an essential step towards developing effective
mobile payments products.
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Rajiv Sabharwal, executive director, ICICI
Bank commented on the launch saying “The launch of the Coral Credit
Card on the chip platform is an affirmation of our commitment to
leveraging technology to enhance cardmember experience.
The Coral Credit Card offers our customers the
best of both worlds – a compelling value proposition coupled with
the assurance of enhanced security while transacting on account of
the smart chip feature.”
As well as enhanced security provided by EMV
certified chip, the Coral Card also brings benefits of rewards on
purchases powered by PAYBACK, double rewards at supermarkets and a
15% savings at restaurants across India amongst others.
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By GlobalData
