Transcorp launches Multi-Wallet Pre Paid card

Transcorp International announced the launch of a Multi-Wallet Pre Paid card that can be used for transactions in stores and online across the country and can also be used by organizations to disburse wages and salaries to even those employees who do not have a bank account. Transcorp has leveraged its Pre-Paid Instrument (PPI) license to operate this program which is the same license held by the leading mobile-wallet operators in India. Over the next few months, Transcorp will roll out its own mobile wallet - Transcash.

In line with the Government's initiatives of Less-Cash India, as well as consumer demand Transcorp has launched Multi-Wallet Prepaid cards which could become a game changer in government's efforts to reduce cash and provide a boost to digital economy. The card is being launched in association with RUPAY - India's very own switch powered by NPCI. Transcorp is the first Non-Bank PPI issuer in India who has issued the Multi-Wallet Pre-Paid Card under its own BIN.

The card can be prefunded or money can be loaded in the card by the employer or by the card holder himself. The maximum amount that can be loaded is Rs 10,000 in case of non KYC (Know Your Customer) compliant card and Rs 1,00,000 in case of KYC compliant card. There is no minimum limit.

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