Corporation Bank and JPMorgan would offer Visa US$ prepaid travel cards to its customers. Through this arrangement, Corporation Bank will offer Corporation Bank-branded Visa US$ prepaid travel card to its customers, using JPMorgan’s expertise in prepaid card applications. Hosted on JPMorgan’s proprietary technology platform and supported by its robust processes, the card is an ideal alternative to traditional foreign currency and travellers’ cheques.
The card provides customers with added security and convenience to make a purchase when travelling. In addition, the card can be used outside of India, Nepal and Bhutan to withdraw cash in local currency at ATMs displaying Visa marks.
“As we continue to expand our business in India, we believe that partnering with a strong and reliable financial institution like JPMorgan will allow us to develop more innovative cards solutions to meet the demands of our savvy clients,” says says B R Bhat, general manager of corporation bank. “We are really pleased and excited about this partnership.”
“This programme has been developed to support our financial institution clients in their migration efforts to go from paper-based products to electronic payment instruments,” says Percy Batliwalla, JPMorgan managing director and head of financial institutions – Banks, Asia Pacific. “We are delighted that Corporation Bank has chosen to work with JPMorgan on this programme, and we are confident that the synergy between the 2 firms would lead to the development of new card products and customised solutions for the India market.”
D.C.