Indian Overseas Bank has launched ‘Connect Card’, a new ATM cum debit card in association with VISA. The bank said Connect Card is targeted at the younger generation aged between 10 and 28 years. The cards can be used at over five lakh outlets as well as for online shopping. Encouraging e-payments, the bank offers 5% cash back offer till the end of this financial year. The bank also launched Channel Financing for its corporate, institutional and SME credit customers. The bank said the facility is for financing supply chain partners. All activities under Channel Financing are digitally signed and electronically exchanged for speedy disposal and effective management, it added.