India’s digital payments company ItzCash has announced that it has partnered with RBL Bank to launch the country’s first co-branded Rupay Platinum Prepaid Card.
Rupay Platinum Prepaid Card is a multi-purpose prepaid wallet powered by the homegrown digital payments facilitator RuPay, will roll out a suite of prepaid services across physical and virtual platforms. Offering a compelling alternative to cash transactions the instrument is well poised to service general spend, online shopping, In-App payments, ATM cash out, gift giving and corporate rewards among others.
The Rupay prepaid wallet will be available across ItzCash’s digital and physical network World, and after completing a one-time registration providing ease of operations to make purchases in stores, pay bills, book tickets online, as well as withdraw cash at any ATM that accepts RuPay. Targeting the homemakers, small business communities and merchants among others the product will provide an excellent digitally equipped platform to avail prepaid services without any adherence to a bank account.
Naveen Surya, Managing Director of ItzCash, said:
We firmly believe in the ‘one size does not fit all’ phenomenon and hence are the only player with an equally strong presence across platforms and mediums then may it be physical or digital. Apart from being India’s first RuPay platinum prepaid card the service will ensure seamless interoperability, access to a large captive customer base to unlocking multiple solutions and thus driving the prepaid program of the country.”
Rajeev Ahuja, Head Strategy – RBL Bank, added:
In the wake of a huge potential to be unlocked in the Indian prepaid card market we are extremely bullish on our association with ItzCash to have a substantial imprint on the country’s digital evolution roadmap. Our partnership will not only enable us to offer tailored payment solutions but will also optimize our service offerings while delivering a high quality end user experience.”