Business Daily from THE HINDU group of publications
Friday, May 11, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, May 11, 2007 ePaper |
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Money & Banking
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Credit Cards & Debit Cards Marketing - New Products & Services Indian Bank launches global debit card Our Bureau
JOINT INITIATIVE: (from left) Mr Nitin Gupta, General Manager, South Asia, MasterCard Worldwide; Mr M.S. Sundararajan, Executive Director, Indian Bank; and Mr K.C. Chakrabarty, Chairman and Managing Director, Indian Bank, at the launch of global debit card, in Chennai on Thursday. — Bijoy Ghosh
Chennai May 10 Indian Bank today launched a global debit card jointly with MasterCard. The Indian Bank Global Debit MasterCard is an unembossed signature-based card. This is the bank's second debit card - the first was the Maestro card launched last year. Speaking at the launch function, Dr K.C. Chakrabarty, Chairman and Managing Director, Indian Bank, said the bank has over 60 million savings bank account holders but only 1.5 million have opted for the Maestro card; even fewer use them. "The reason is sheer force of habit and resistance to something new. This is bound to change." Mr Nitin Gupta, Country General Manager of MasterCard Worldwide, said that Indian Bank has used both the technology-based debit cards from MasterCard. The global debit card would be valid at over a million ATMs worldwide and over 25 million points of sale. In India, it would be accepted at over 16,000 ATMs and 300,000 points of sale.
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