Karur Vysya Bank has launched India’s 1st pre-paid card Enkasu (My cash in Tamil) in Karur, Tamil Nadu under its Quit cash movement. The card functions based on Near Field Communication Technology (NFC) in a semi closed-loop & the customers buying this card can make ‘tap & go’ payments for even small purchases to merchants from an amount of Rs. 1 to doing away with the need for cash & small change.
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These cards are special in the sense that it can be accepted ‘online’ & ‘offline’ as well. KVB customers can recharge the card through various ways including the bank’s mobile App ‘DLite’, UPI (Unified Payments Interface), NEFT (National Electronic Funds Transfer) or through its all 7 branches in Karur. Non-customers of the bank can also get this card even if they do not have a bank account anywhere but with the condition of ensuring KYC guidelines.
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