South Indian Bank has launched a prepaid card and a gift card on the RuPay platform. A.P. Hota, MD & CEO, National Payments Corporation of India and V. G. Mathew, MD & CEO, South Indian Bank, launched the cards at a ceremony at the NPCI headquarters in Mumbai. Mathew said the bank encourages its 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, he added. Hota said the launch of RuPay Gift cards by the bank will boost the use of card payments. It is a safer alternative than giving cash on occasions, he added. 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 ATMs, PoS terminals at merchant outlets and e-commerce websites across the country. The SIB Gift Card is a prepaid, non-re-loadable card and there is no need to have an account with SIB to purchase this gift card.
