Axis Bank has come out with a ‘display variant’ debit card which does away with the process of one time password (OTP) while transacting. The card, being made available for high-value NRE customers, has an embedded EMV chip, a display screen and a touch-sensitive button which helps generating the OTP on the card itself. This OTP, in conjunction with the user ID and password, allows the customer to transact on internet banking without having to wait for OTP delivery via SMS or email, the bank said in a statement, adding this is the first instance of such a card being introduced in the country. The card comes with free ATM access across the world, offers on lounge access, loyalty points on transactions and an air accident insurance of Rs 25 lakh and a personal accident insurance of Rs 5 lakh.
