India’s 4th largest private sector Bank, YES Bank, has launched a multipurpose prepaid card in association with EZspend Prepaid Payment Solutions on the MasterCard platform.
The YES Bank-EZspend Card is a preloaded payment card that can be used to make purchases at POS terminals and even for online shopping across India on the MasterCard network.
The Card is one of the safest transaction options as each account is linked to an online card tracking system which monitors and helps the account holder to track each transaction and provides a detailed statement every month. The customers are also updated through SMS / e- mail alerts for each transaction, including balance statements.
Mr. Chitra Pandeya, Sr. President & Country Head, Savings Liabilities Management, Cards and Direct Banking, YES Bank said,, “YES Bank has a significant commitment in promoting cashless transactions as they encourage transparency & offer great utility to consumers, including ease of managing their resources. The current offering in association with EZspend adds to our prepaid product suite and will be effective in achieving our objective of promoting a cashless ecosystem”
Prepaid cards are the safest form of financial cards as the user defines & manages the credit limits for these cards. It is ideal for users who are not comfortable handling a large amount of money i.e. First time card users or / simply for users who want to keep minimal risk / or exposure on their card. Unlike a credit card, a prepaid card does not need a financial background check and has minimal documentation requirements.
Ms. Neha Jetley, Director, EZspend Prepaid Payment Solutions said “EZspend has a vision to empower unbanked or underbanked individuals with a prepaid payment instrument, thus, giving them the power to shop, dine, buy tickets and pay bills at a physical location or online. Our mission is to develop products and services that help unbanked and underbanked consumers take their first step towards a smarter way to spend, save & manage their money.”
The YES Bank-EZspend card can be purchased at any EZspend retail outlet in Delhi / NCR after completing a one- time registration process or through home delivery by calling + 91 92 666 36 888.
Now, this product line in association with YES BANK and MasterCard is available in the Delhi / NCR and Gurgaon region with a goal to attain one lakh customers by the end of the year.
Over the next 3 years, EZspend will expand to other Tier 1& Tier 2 cities and have over 100 locations Pan India.
Main Features of YES Bank-EZspend card..!
** 2 types: GPR - General Purpose Reloadable Prepaid Cards and Non-reloadable One-time Gift Cards.
* * GPR Cards can be loaded for any value between Rs. 500 up to Rs. 50,000 at one-time & can be bought for an initial registration fees of Rs.100.
* * One-time Gift cards are non-reloadable in nature and can be loaded only once during purchase for any amount between Rs 500 up to Rs 50,000 for a one-time fee of Rs. 100.
** These cards are multipurpose, convenient & highly safe and secure for any kind of transactions and easy to manage.
** No late payment fee, interest free or minimum deposits required with quick application processing time of one business day
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