Karur Vysya Bank has launched Enkasu, a pre-paid card in Karur. In response to the digital initiative of the Government of India, the bank undertook a Quit Cash Movement in Karur - a movement to reduce the usage of cash in the district of Karur.
Enkasu works on Near Field Communication Technology in a semi closed loop. The cardholder can make tap & go payments for even small purchases to merchants - as little as Re. 1/-. Doing away with the need for cash and small change, the Enkasu card will be beneficial to both merchants and customers alike.
In addition, Enkasu cards are unique in that they can be accepted 'online' as well as 'offline', thereby increasing its utility manifold as internet access is not mandatory for usage.
The card can be recharged through multiple means - through KVB's mobile App 'DLite', UPI, NEFT or through KVB's many branches in Karur.
KVB intends to provide Enkasu cards to all its customers in Karur. Non-customers of the Bank can also, subject to satisfaction of KYC norms, get an Enkasu card, even if they do not have a bank account anywhere. The customers will be able to pay for their purchases at most merchant establishments across Karur. KVB is committed to expanding the usage of Enkasu to other districts in Tamil Nadu after a successful launch in Karur, its hometown. With this it aims to assist in the government's mission of reducing cash dependency across India.
Enkasu cards are available at all branches of Karur Vysya Bank in Karur.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)