Axis Bank launches Suvidhaa Prepaid Card

SRINAGAR: Axis Bank, in partnership with Suvidhaa Infoserve, Tuesday announced the launch of Axis Bank-Suvidhaa Prepaid Card.
A release issued here said it is the first-of-its-kind initiative in the Banking Industry, “leveraging the e-KYC platform for instant on-boarding, cash deposit and withdrawal for the customer”.
“This card is built on three components—the large reach of the Business Correspondent network, instant eKYC based on Aadhaar, and the ability of Prepaid Cards to be usable everywhere.
These come together to create a unique solution for the migrant population, who have hitherto found it difficult to access basic banking services for savings or money transfer,” it said.
Under the Axis Bank Suvidhaa programme, it said, the customer gets an Axis Bank Prepaid Card issued instantly through the Aadhaar eKYC platform.
It allows the customer to load funds into the card immediately, and the card can then be used at any POS terminal or ATM anywhere in India, it said.
“The customer can also remit money to any other domestic bank account through the BC network,” it added.
Deputy Governor of Reserve Bank of India, HR Khan, unveiled the card in presence of Shikha Sharma, MD and CEO of Axis Bank, Paresh Rajde, Founder and Chairman, Suvidhaa Infoserv and Ari Sarkar, Country Corporate Officer of MasterCard, the release said.