Excelsior Correspondent
JAMMU, June 18: LIC Card Services Limited today launched a contactless prepaid gift card ‘Shagun’ in collaboration with IDBI Bank on Rupay platform.
The purpose of this card is to expand the gift card market by replacing the cash market to plastic market and to contribute towards digital India.
The gift card was launched by M R Kumar, Chairman LIC of India in presence of Managing Directors LIC and Chief Executive, LIC CSL, whereas Rakesh Sharma, MD & CEO, IDBI Bank and Dilip Asbe MD & CEO NPCI along with their team members were also present during the event.
Rakesh Kumar, Chief Executive LIC CSL enumerated some of the features of the gift card ‘Shagun’ including the card comes pre-wrapped, ready for gifting and space for personalized messages for the recipient, with three years’ validity, the card comes with flexible loading options of any amount ranging between INR 500 and INR 10,000, acceptability at millions of merchant outlets and e-commerce websites in India, provide freedom users to make purchases at various merchant locations and shop online and many others.
Presently, the gift card ‘Shagun’ is rolled out for internal consumption of LIC and its subsidiaries but in coming months, this card will be available for purchase by public at large for gifting purposes, said an official of the LIC.
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