India-based OneAssist Consumer Solutions has launched a new protection plan, WalletAssist, which provides cover against any kind of fraud on credit and debit cards.

WalletAssist also provides cover against skimming, phishing, counterfeit cards and PIN based frauds.

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The company has launched two different plans in WalletAssist, Power Plan with fraud cover of INR15bn ($240m) and Privilege Plan with fraud cover of INR25bn ($401m), reported ciol.com.

The Power Plan costs INR1,299 ($21.04), while Privilege Plan costs INR1,799 ($29.14).

The WalletAssist also provides customers with cover on card frauds that have taken place seven days before reporting loss.

Customers may also call OneAssist in the event of lost wallet with multiple credit and debit cards and block all the cards within minutes, instead of calling multiple banks.

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In addition to providing cover for card frauds, the company also provides customers with PAN and driving license for free.