Tamilnad Mercantile Bank has launched two new cards – TMB prepaid card and TMB gift card. The two cards are intended to facilitate the present generation customers experience digital banking. AVMV. Mani, chairman, AVM group of companies, and D. Chandran, MD, Nila group of companies received the first prepaid card and J. Michael Motha, MD, Sahayamatha Salterns received the first gift card at a program at the hands of H.S.Upendra Kamath, MD and CEO of the bank. Several other customers also received the cards. The bank said the prepaid card is a payment instrument like debit or credit card with the RuPay platform with a validity of five years and users could top-up the card in multiples of Rs 100. The card is available only in Indian rupees and is valid only in India. It could be used to withdraw cash at ATM, shopping and also in the process of E-commerce (online merchant / payment portals). The gift card is a prepaid, non-reloadable magnetic stripe card based on the Rupay platform. There is no need to have an account with TMB to purchase this gift card. Validity period is three years and it could be used in 8,75,000 outlets, through 10,000 e-commerce websites across the country. It is valid in India only and could be used at point of sale terminals at merchant outlets and for e-Commerce.
