KOCHI: Axis Bank has launched Axis Bank- Suvidhaa Prepaid Card, a first of its kind initiative in the banking industry. The card leverages the e-KYC platform for INSTANT on-boarding, cash deposit and withdrawal for the customer.
“Axis Bank Suvidhaa prepaid 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(interoperability). 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.
Under the Axis Bank Suvidhaa programme, the customer gets an Axis Bank Prepaid Card issued instantly at any Suvidhaa Business Correspondent (BC) outlet, through the AadhaareKYC platform. This allows the customer to load funds into the card immediately at the BC outlet; it can be used at any POS terminal, ATM or BC outlet and can remit money to any other domestic bank account,” Shikha Sharma MD and CEO of Axis Bank said.