RBL Bank has collaborated with GI Technology, a Wirecard subsidiary operating as ICashCard, to introduce a new card, known as RBL-ICASH prepaid card, in India.
Based on the RuPay platform, the co-branded card will give GI Technology’s 10 million ICashCard cardholders the option to have an additional pre-paid instrument to operate as open loop wallets.
Wirecard said that the new prepaid card will act as an alternative to cash transactions. It will also be widely accepted for online shopping sites, utility payments, ATM cash out, among others.
RBL-ICash RuPay prepaid cards can be purchased at more than 150,000 Smart Shop Retail Agent network across the country or through ICASH website or mobile app by completing a simple one-time registration process.
GI Technology director Ramu Annamalai said: “This is the first of the many co-branded card issuance that is planned with RBL Bank. This card is targeted at the migrant workers and their families and micro entrepreneurs. This will bring in a lot of convenience and time savings to them.”