LIC Cards Services has launched a contactless prepaid gift card – ‘Shagun’ – in collaboration with IDBI Bank on the RuPay platform. The card is expected to expand the gift card market with an intent to promote cashless ways of gifting and present a wide range of end-use choices and in future foray into the market of e-Gift Cards. In the initial phase, Shagun will be available to LIC and its subsidiaries/associates for official use. It will be used to facilitate awards and special rewards during official conferences/ functions. The card offers customization in the form of flexible loading of any amount ranging from Rs 500 to Rs 10,000. The customer can perform multiple transactions within the validity of 3 years and can be used at millions of merchant outlets and e-commerce websites in India. The Contactless (tap & go) feature of the card is aimed at transforming the transaction experience for users
