Axis Bank has launched India’s first open loop EMV contactless smart cards. The card has been introduced in association with Bengaluru Metropolitan Transport Corporation (BMTC) and Kochi Metro Rail Corporation (KMRL). The smartcards are intended for commuters in Bengaluru and Kochi. The card offers integrated benefits of cashless travel and payments at about 1.2 million merchant outlets across the country and offers several other services to commuters, such as convenient recharging via conductors on bus, Axis Bank ATMs, web, or Axis Bank merchant terminals, shopping facility at merchant outlets and interoperability as the card can be used at any merchant terminal in the country for a purchase transaction. The bank has also launched a mobile app for Kochi Metro which can be used by commuters to manage their card and also to get QR tickets on the go for travel in the Metro. Shikha Sharma, MD & CEO of the bank said she is confident that the card will give commuters further encouragement as India makes rapid strides towards becoming a ‘less-cash’ economy.
